Rate cut hopes drive further STI gains
News of Xi-Trump meeting, dovish central banks and hopes of rate cuts by Fed lead to momentary euphoria
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JUDGING from recent sessions, most investors seem sold into thinking that rate cuts by the US Federal Reserve are a certainty.
With news that US President Donald Trump and his Chinese counterpart Xi Jinping are set for an "extended meeting" at the G-20 summit, and dovishness from other central banks added to the mix, risk-on attitudes returned to the fore.
Buoyed by the sentiment, Singapore's Straits Times Index (STI) closed at 3,288.17, rising 49.44 points or 1.5 per cent.
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