STI adds 0.5% amid quieter volumes

THE days following the Chinese New Year holidays are often positive ones, and on Thursday the Singapore market behaved in that fashion.

The Straits Times Index (STI) closed 16.08 points or 0.5 per cent higher to 3,200.64. The Benchmark index has gained 4.2 per cent since closing at 3,068.76 on Dec 31, 2018.

CMC market strategist Margaret Yang told The Business Times: "The Singapore market had a decent rally on Thursday to re-challenge the 3,200 resistance level."

Turnover on the Singapore bourse stood at roughly 818 million securities worth S$920 million, which worked out to an average unit price of S$1.13 per security. Advancers outnumbered decliners 205 to 138. Thursday's volume fell below the Singapore Exchange's (SGX's) average daily volume due in part to inactivity in north Asian…