STI ends losing streak, rebounds by 4.3%

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.