Jardine group, banks put STI back in the black

IT TOOK almost three months, but better late than never - the Straits Times Index yesterday rose 9.71 points to 3,172.17, pushing it about five points or 0.2 per cent into the black for the year-to-date. It was the first time since Jan 2 that the STI closed in positive territory for 2014.

For the week, the index gained 100 points or 3.2 per cent. The STI started the year at 3,167, but since closing at 3,174 on the first day of the year, it has traded below. The first quarter low was 2,960 on Feb 5, which means that since then, the index has bounced 212 points or 7.2 per cent.

The bulk of the gains over the past fortnight have come courtesy of the banks and Jardine stocks, which has prompted observers to speak of quarter-ending window dressing. That is plausible given that there were no