Buyers draw inspiration from Wall Street
Window dressing also helps; DBS says Asia ex-Japan equities could be coming into a "sweet spot
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ON Thursday, the eve of the final day of the second quarter, the Straits Times Index managed an impressive 42.95 points or 1.3 per cent jump to 3,258.65 as buyers drew inspiration from a large overnight rally on Wall Street.
The index's gains were led by the banks and Singtel, and observers said some of the push could have come from funds indulging in a spot of quarter-ending "window-dressing" or "portfolio rebalancing".
Whatever the case, volume amounted to 1.7 billion units worth S$1.2 billion - the highest this week - and excluding warrants there were 310 rises versus 155 falls throughout.
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