STI up 0.9% on Friday, ends week on fresh two-year high

FOUR out of five ain't bad and that's how the Singapore bourse's key Straits Times Index fared over the week. It notched up gains on all but one trading day of the week, capping the week's trading on a robust note - a fresh two-year high.

The STI jumped 30.19 points or 0.9 per cent to finish at 3,386.44 on Friday. The gains were partly inspired by a rally in US stocks led by technology shares, which got a boost from upbeat earnings. This follows ahead of key GDP data out of the US that will be closely watched to gauge the resilience of the world's largest economy. Most expect the numbers to be strong based on the recent run of data out of US.

Week-on-week, the key index has advanced by 45 points or 1.4 per cent and more significantly, has sustained its upward trend to bid sayonara to the 3,350 resistance mark - for now, at least.