STI ends losing streak, rebounds by 4.3%
Claudia Tan HS
THE Straits Times Index (STI) put an end to its losing streak on Friday, gaining 99.74 points or 4.3 per cent to close at 2,410.74.
It had opened up 1 per cent in the morning and built on those gains throughout the day. This comes as Wall Street finished its session higher after a series of unprecedented blockbuster government and central bank measures were announced in a bid to cushion the impact of Covid-19 on the economy.
Among those are the United States' trillion-dollar stimulus plan on top of Federal Reserve interest rate cuts to ease some liquidation pressure on asset markets and improve market sentiment.
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