Banks, GLP help STI rebound 15 points

Gains in the three local banks accounted for 12-point rise in STI even as concerns remain over their exposure to O&G sector

Published Mon, Feb 6, 2017 · 09:50 PM

Singapore Stocks

US banks rose on Friday and their local counterparts followed in their footsteps on Monday, helping to push the Straits Times Index up 14.97 points to 3,056.91 after it had dropped 26 points last week on Thursday and Friday.

Also contributing to the rise was a S$0.12 or 4.6 per cent rise in Global Logistic Properties to S$2.74 on volume of 50 million that accounted for four points. Gains in the three banks accounted for another 12 points.

Turnover amounted to 2.7 billion units worth S$1.24 billion, in line with the daily averages of the past month. Excluding warrants there were 278 rises versus 147 falls.

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