Singapore shares up again, along with regional markets
This came on the back of China's industrial profits jump and Wall Street's positive close last week.
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THE Straits Times Index (STI) rose for the second straight session on Monday, closing 10.73 points or 0.43 per cent higher at 2,483.01, after official data showed profits at China's industrial firms grew for the fourth straight month in August, and Wall Street concluded last week on a positive note.
Stephen Innes, chief global market strategist at AxiCorp, said: "It will continue to set a more constructive tone to the start of the week." However, he added that Asian markets' strength could be tested over the week as more banks are ruling out fiscal stimulus in the US. "With the market running on less monetary and fiscal oxygen these days, it wouldn't take much to turn the tide," he said.
Overall, about 915.2 million securities worth S$868 million changed hands; losers outnumbered gainers 197 to 195.
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