STI rises 0.4% ahead of key US data

THE local bourse's key Straits Times Index (STI) defied expectations after it snapped out of a weak start and began climbing in the second session, finishing higher for the fourth straight day against a mixed showing by regional peers.

With US stocks losing steam overnight on Monday, traders were nevertheless cautious ahead of the release of a key US inflation data that will be scrutinised for clues on the pace of the Federal Reserve's tightening policy.

The STI finished 13.5 points or 0.4 per cent higher at 3,553.73 on Tuesday. Key indices in region closed in varied moods with rises in Japan, South Korea, Hong Kong and Malaysia while China and Australia wrapped the day on a lower note.