Banks give STI a boost in mixed session
Brokers describe sentiment as cautious but generally firm, given that US stocks have been rising
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A quiet session on Wednesday ended with the Straits Times Index rising 10.6 points at 3,348.8, thanks mainly to rises in all three banks. Reaction to Wall Street's fresh all-time high on Tuesday was relatively muted, though this was to be expected since stocks here had already risen on Tuesday in anticipation of the US market rallying that day.
Turnover amounted to a healthy two billion units worth S$1.4 billion and excluding warrants there were 245 rises versus 204 falls, so trading was more mixed than the index's reading would suggest.
Brokers described sentiment as cautious but generally firm, given that US stocks have been rising while the VIX Index, which measures expectations of future volatility, has remained very low.
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