Singapore market a hive of activity

WITH high expectations of a dovish interest rate outlook in the US, investors in the local equities market took to picking up stocks in the lead-up to June's US Federal Reserve meeting.

That gave a fillip to Singapore's Straits Times Index (STI) to close at 3,238.73, rising 30.74 points or one per cent.

IG market strategist Pan Jingyi said: "Every bit of data was expected to feed into the expectations with regard to the Fed's stance this week, and Monday's data releases out of the US had certainly joined the camp of supporters for dovishness."