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Singapore stocks finish higher, STI at new 19-month high
OUR Monday column suggested traders stick to the Straits Times Index's components this week because of the likelihood that with the end of quarter looming on Friday, the larger blue chips such as the banks and Jardine stocks might enjoy a spot of window-dressing.
The column also discussed the probability that we could even see buying in anticipation of a Friday push. On Wednesday, buying of the banks and Jardine stocks was chiefly responsible for the STI rising 26.75 points to a new 19-month high of 3,184.57 - despite the Dow futures slipping into the red after a morning rise and a mixed opening for Europe.
The index's largest contributor was Jardine's Hongkong Land- its US$0.37 jump to US$7.65 on volume of 4.9 million added about 7 points to the STI. Gains for DBS, UOB and OCBC added a further 12 points.