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STI ends losing streak to close 1.3% up

Last Friday's gains on Wall Street and the expectation of a postponement of a Fed rate hike buoy trading sentiment

Anita Gabriel

Published Mon, May 9, 2016 · 09:50 PM

THE local bourse's key index broke a losing streak that had lasted more than two weeks on Monday, buoyed by Friday's gains on Wall Street after latest data on slowing US job growth reduced expectations of a June rate hike by the US Federal Reserve.

The benchmark Straits Times Index (STI) chalked up 35.26 points or nearly 1.3 per cent to end at 2,766.06.

CMC Markets Singapore analyst Margaret Yang said: "Nowadays, we are dealing with a market in which good news is sometimes received as bad news, and vice versa."

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