Singapore shares finish higher, STI up 0.9% thanks to big banks push

AN eighth consecutive all-time high for the Dow Jones Industrial Average on Tuesday triggered a large push on the local banks on Wednesday, propelling the Straits Times Index up 28.01 points or 0.91 per cent to 3,122.20 with overall volume amounting to a decent 2.6 billion units worth S$1.47 billion.

The broad market excluding warrants recorded an advance-decline score of 290-196 perhaps not as firm as the index's reading suggested. The unit value traded was S$0.57.

All three banks surged higher, with UOB the top performer with a S$0.45 or 2.1 per cent jump to S$21.77 on volume of 4.1 million. OCBC was next with a S$0.18 or 1.9 per cent rise to S$9.66 with 8.4 million done and DBS ended S$0.29 or 1.6 per cent firmer at S$18.75 with 6.6 million shares changing hands.