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Banks drive ST Index's 22.8-point advance

Singapore's three banks bolstered by expectations of US rate hikes in December

Published Thu, Oct 12, 2017 · 09:50 PM

THE three banks were once again the beneficiaries of expectations that US interest rates will be raised in December, all three ending stronger on Thursday after the overnight release of the minutes of the September US Federal Open Markets Committee meeting which showed that Fed officials believe the economy there to be strong enough to withstand a third hike for 2017.

Boosted by gains in DBS, UOB and OCBC, the Straits Times Index fin…

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