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Dovish Fed helps nudge STI 0.73% higher

Most observers felt it was mainly short-covering on a day gains in Singtel, OCBC and Hongkong Land within the index contributed to the final reading


WALL Street rallied after an apparently market-friendly Federal Open Market Committee (FOMC) meeting on interest rates, and so it was that the Straits Times Index, after having lost 14 points on Tuesday and Wednesday, rebounded 24.41 points or 0.73 per cent to 3,386.16 on Thursday.