Market picks up on US stocks' rally
Local banking shares gain on the back of renewed optimism in Trump administration
RENEWED optimism in the new year about the incoming Trump administration helped Singapore shares extend its gains on the second trading day of 2017.
Led by a rally in the three banking stocks - OCBC, DBS and UOB - the benchmark Straits Times Index (STI) clocked 22.34 points or 0.77 per cent higher to finish at 2,921.31 on Wednesday, after retreating from an intraday high of 2.932.35 in the late afternoon.
Despite the weak turnover of almost 2.3 billion units worth S$9…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Google lays off employees, shifts some roles abroad amid cost cuts
Cordlife files police report against former employees for ‘potential wrongdoings’
Michelin challenges EU’s hunt for evidence of tyre cartel
First Resources denies allegations of links to firms clearing forests in Indonesia
US: Wall St opens higher on megacaps boost; earnings, Fed comments
Abbott beats quarterly profit estimates on strong medical device sales