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STI hits 19-month high on Fed signal

Index up 26 points on heavy turnover of 2.7b shares, buoyed by signs of just 2 more rate hikes at most

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The US Federal Reserve lived up to expectations when it raised its short-term rate by 25 basis points on Wednesday, but more importantly for the bulls, it did not signal more than two more hikes this year.

THE US Federal Reserve lived up to expectations when it raised its short-term rate by 25 basis points on Wednesday, but more importantly for the bulls, it did not signal more than two more hikes this year.

As a result, Wall Street rose overnight, pushing the Straits Times Index up 26.09

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