Cheery mood spurs STI's rally for 5th day

OPTIMISM in major economies and firm US and local earnings continued to fuel Singapore equities' staying power on Friday after it extended gains made in the past four sessions.

Supported by heavyweights Keppel Corporation, DBS and OCBC, the Straits Times Index (STI) ended Friday's session at 3,340.73, up 5.82 points or 0.17 per cent, tracking the Dow futures which was up more than 70 points shortly before closing.

IG analyst Jingyi Pan said in her note that Friday saw the US Senate's passing of a budget vote as a turning point for the heightening of tax overhaul expectations.