Wall St's highs help keep STI in the black for 2016

WALL Street's consecutive all-time highs between Monday and Thursday provided the backdrop for a firm week for the Straits Times Index (STI) during which it gained 20 points or 0.7 per cent at 2,945.35, of which 4.87 points came on Friday. The index has now gained 2.2 per cent for the year so far.

Turnover on Friday was below average at 1.1 billion units worth S$949 million, with the week's high coming on Wednesday when S$1.2 billion was transacted. Excluding warrants, Friday's advance-decline score was 167 to 184.

Much of the index's support during the three-week rally that surprisingly ensued after "Brexit", or Britain voting to exit the European Union, has come from Singtel and Thai Beverage, with help from the Jardine Group. Friday's gain, for instance, came largely thanks to a S$0.07 jump in Singtel to S$4.30 which saw 21.7 million shares traded, and which added about seven points to the STI.