Surprise MAS move boosts ST Index

THE Straits Times Index on Thursday managed to advance further into the black for 2016 when it rose 23.52 points to 2,913.93, thus bringing its gain for the year to date to 32 points or 1.1 per cent.

Some observers attributed the rise to the Monetary Authority of Singapore's (MAS's) surprise move to a neutral policy stance of zero per cent appreciation for the Singapore dollar.

For example, Rabobank in its daily notes said of the rise in Asian stocks that market sentiment in Asian markets got a boost from Singapore's central bank trying to restart the economy through the neutral policy.