Banks spearhead rise once again
STI chalks up second straight gain this week as lenders and other defensive counters stay in limelight amid yield search
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THE Straits Times Index (STI) ended on a firmer note on Wednesday for its second straight gain this week - buoyed, as usual, by Singapore banks and other defensive counters finding favour among investors in their hunger for yield.
To be sure, there were surprising outliers, with SingPost shares still trading at February levels amid concerns that the postal service cannot keep up with its dividend payout.
The STI closed up 19.14 points, or 0.67 per cent, at 2,869.57. Some 987.5 million units worth S$838 million changed hands. Gainers exceeded losers in the Singapore market at 236 to 151.
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