Singapore shares end week higher on Yellen comments

IT MIGHT have been a roller-coaster ride for the markets this week following the United States presidential election, but the uncertainty was reduced following US Federal Reserve chair Janet Yellen's Thursday comments about raising interest rates soon. With banks in play on hopes that higher rates will lead to higher earnings, the benchmark Straits Times Index (STI) ended Friday's session on a more upbeat note to finish 25.17 points higher at 2,838.65.

Turnover was 1.3 billion units worth S$1.09 billion, roughly in line with the daily average of the past fortnight. Excluding warrants, there were 193 rises versus 194 falls, so the index's rise was not reflected in the rest of the market. Friday's session was boosted by Ms Yellen's mention that a US rate hike could come "relatively soon" and that she intended…