STI up 0.4% ahead of ECB policy meeting

THE Singapore stock market shrugged off a softer lead from Wall Street to notch up its second consecutive day of gains ahead of a key European Central Bank policy meeting on Thursday.

The key Straits Times Index gained 12.37 points or 0.4 per cent to 3,356.25 with some 1.8 billion shares worth S$1.1 billion traded.

"The STI is currently facing some selling pressure at the 3,350 area, the previous high of the July-to-August period. Strong Q3 earnings results are needed to give the STI a push to break through this resistance," said CMC Markets analyst Margaret Yang Yan.