Singapore stocks finish higher thanks to upbeat Yellen speech

WALL Street on Wednesday rose sharply in response to an upbeat congressional testimony on the US economy and interest rates given by Federal Reserve chair Janet Yellen, and so the Straits Times Index (STI), which had lost 37 points on Tuesday and Wednesday, reacted on Thursday by rebounding 26.76 points or 0.8 per cent to 3,235.67.

Turnover amounted to 2.4 billion units worth S$1.1 billion and, excluding warrants, there were 255 rises versus 198 falls.

Not surprisingly, banks and Jardine stocks that have been the main drivers of the STI's moves over the past year were once again chiefly responsible for the index's rise.