STI continues rally on support from banks, BOJ

Credit Suisse sees downside risks to lenders' 2015 earnings, but says they should still be able to deliver modest EPS growth

Published Mon, Nov 3, 2014 · 09:50 PM

Straits Times Index

SINGAPORE stocks continued to rally on Monday, led by a warm reception for the banks' recent results and optimism about stimulus from the Bank of Japan (BOJ). The Straits Times Index (STI) rose 0.51 per cent, or 16.59 points, to close at 3,290.84 for the blue-chip benchmark's fourth positive session in a row.

It helped on the macroeconomic front that the BOJ announced on Friday an expansion of its quantitative easing (QE) stimulus programme.

"News that the Bank of Japan (BoJ) was expanding its stimulus plan, after confirmation on Wednesday the Fed would cease its QE programme, could not have c…