Recovering banks drive market rally
But trading activity muted as players focus on Yellen-watch, with total turnover at only S$718 million
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SINGAPORE banks continued to recover from recent lows on Thursday, helping to lift Singapore stocks to a third straight day of gains as the Straits Times Index rose 7.36 points, or 0.26 per cent, to close at 2,876.93.
Despite the rally, trading activity was muted ahead of expected comments later in the week by US Federal Reserve chairwoman Janet Yellen. Ms Yellen's speech at the Fed's annual Jackson Hole retreat will take place on Friday night, Singapore time.
A total of 713.1 million shares changed hands, which was about 45 per cent of the average daily volume for the first seven months of the year. Total turnover on Thursday was S$717.7 million, or 65 per cent of the year-to-date daily average between January and July 2016.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
