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STI rallies on oil prices, regional rebound

Penny stocks lead the charge as the index gains 37.54 points to close at 3,248.71

Published Wed, Jul 5, 2017 · 09:50 PM

BUOYANT oil prices and a regional rebound fuelled a surprise rally for the Singapore stock market on Wednesday, with penny stocks leading the charge.

For Thursday's market, the overnight release of minutes from the US Federal Reserve's June meeting are expected to set the tone.

The Straits Times Index (STI) gained 1.17 per cent or 37.54 points to close at 3,248.71. Gainers outnumbered losers 301 to 150, or about two up for every one down.

After regional markets took a beating on Tuesday following North Korea's reported test of an intercontinental ballistic missile, analysts were expecting a subdued start to Wednesday…

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