Jardine and bank stocks push STI up

THE Straits Times Index (STI) rose 18.22 points or 0.54 per cent to 3,422.11 on Tuesday to go with Monday's 1.03-point rise, bringing its two-day gain to 19 points after falling 38 points on Thursday and Friday last week.

However, despite the index's gain, the broad market was weak for most of the day, with falls outnumbering rises. At 5pm, the advance-decline ratio was 195-238, and turnover at 1.3 billion units worth S$1.17 billion was in line with recent averages.

Jardine and bank stocks were the primary index drivers, although Noble Group's S$0.065 or 7 per cent rebound to S$1.01 contributed about 3.4 points. The stock had been under intense pressure over the past fortnight following a short-selling attack by a firm known only as Iceberg Research.