Fed move boosts STI to end trading week 0.79% higher

SINGAPORE stocks ended the week higher as investor sentiment was lifted by the Federal Reserve's move to prioritise a strong job market over inflation in its new approach to monetary policy.

Local investors reacted to the news of low interest rates for the foreseeable future, causing the benchmark Straits Times Index to rise 0.79 per cent or 19.82 points to 2,539.63.

Advancers outnumbered decliners 228 to 208, after some 2.41 billion securities worth S$1.2 billion changed hands.