Gains by banks help equities extend rally

SINGAPORE shares continued their rally for the fifth straight session on Wednesday, driven primarily by gains in the banking stocks.

The benchmark Straits Times Index (STI) added 18.99 points or 0.57 per cent to close at 3,325.07. The blue-chip benchmark had on Tuesday closed at 3,306.08 - breaching the 3,300 threshold for the first time in two years.

Some 3.6 billion units worth S$1.6 billion changed hands, with gainers outnumbering losers 311 to 170, or about two up for every one down.