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Fed minutes spur bargain hunting

But there is a risk that the market may not be listening hard enough to the Fed hawks

Published Thu, Oct 9, 2014 · 09:50 PM

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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