Fed minutes spur bargain hunting
But there is a risk that the market may not be listening hard enough to the Fed hawks
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DOVISH minutes released overnight from the US Federal Reserve's September meeting gave bargain hunters the signal that they needed to rescue Singapore stocks on Thursday from a five-month low.
The blue chip-dominated Straits Times Index rose 1.01 per cent, or 32.54 points, to close at 3,259.25 and ending a three-day losing streak.
Trading activity was mixed. A total of 1.2 billion shares changed hands, just over half of the year-to-date daily average volume of 2.2 billion shares. But the value of the day's trades was a respectable S$1.1 billion, matching the year-to-date daily average.
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