Banks, Jardine propel STI 25 pts higher
Gains have been attributed to firm opening in Europe markets which suggests another Wall Street rally
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AFTER dropping 27 points on Monday, the Straits Times Index regained 25.06 to finish at 3,313.73 on Tuesday. The bounce was led by a familiar group of index components - the three banks and the Jardine group. Turnover was 1.3 billion units worth S$1 billion and excluding warrants, there were 235 rises versus 181 falls - the first time in a week that rises outnumbered falls.
Traders attributed the gain to a firm opening Europe-wide that suggested Wall Street might turn in another record-breaking session on Tuesday.
The biggest index gainer was DBS, whose S$0.17 rise to S$19.47 came with 2.56 million shares traded and added 3.5 points to the STI. Together with rises in UOB and OCBC, the banking sector contributed a gain of almost nine points. Rises in Jardine Matheson and Cycle & Carriage contributed four points.
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