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Market shrugs off weak US jobs data

STI up third day in a row, led by banks; possibility of US rate hike delay lifts Singapore equities, albeit in thin trading

Anita Gabriel

Published Mon, Jun 6, 2016 · 09:50 PM

A FALL in Wall Street last Friday on disappointing jobs data did little to break the rhythm of the local bourse's key Straits Times Index which mounted its third straight day of gains on Monday.

Big rises in the shares of the three banking stalwarts, among others, pushed the STI up by 22.05 points or 0.8 per cent to 2,831.28.

US equities fell last Friday after latest figures revealed a sharp slowdown in May's hiring. The jobs report is considered important given that the US Federal Reserve had appeared to be hawkish with traders expecting a rate hike in the near term.

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