Play on banks continues to drive STI

Wednesday's six-point gain, following Tuesday's 22-point rebound, means the index has recovered from Monday's 27-point loss

Published Wed, Dec 10, 2014 · 09:50 PM

Stocks

CONTINUED play on the banks helped nudge the Straits Times Index (STI) up 5.97 points to 3,325.81 on Wednesday, which, when added to Tuesday's 22-point bounce, means the index has now regained all of Monday's 27-point loss.

A rebound in Hong Kong probably went some way to bolster sentiment here, though to most observers, the index's heavy reliance on only a small number of stocks did not convey an accurate picture of the health of the broader market.

In Wednesday's case, a S$0.29 rise in UOB to an all-time high of S$24.68 pushed the STI up four points; DBS' S$0.14 climb to S$20 added another 2.9 points.