STI sails past 3,000 points on China cue

THE Singapore blue-chip index rose above the 3,000 mark with ease on Wednesday, as a rebound gained momentum from a dose of China cheer that also lifted other major markets in the region.

Though there was nothing particularly dramatic among the top actives, both the overall trading activity on the local bourse and Straits Times Index (STI) components rose.

The STI climbed 40.92 points to 3,040.48 after having rallied 25.15 points on Tuesday to break a five-day losing streak. The rally was driven by the usual suspects including Singtel and DBS; Hongkong Land also put in a decent showing.