STI gain a technical rebound: analysts

LARGE-CAPS and offshore counters led a rebound in local shares on Tuesday that many viewed as a technical bounce, coming as it did on the heels of a so-called "Black Monday" on Wall Street overnight that suggested the presence of more potholes down the road.

The Straits Times Index (STI) rallied 1.5 per cent or 42.9 points to 2,886.29, snapping a six-day losing streak as the three local banks and energy-related stocks recovered some of their losses from the day before.

The climb in bluechips mirrored gains in the broad market, where gainers outnumbered losers 326 to 177 or abou…