STI ends on a merrier note despite thin trade

INVESTORS took a pause this festive season, not uncommon in December, particularly when the past year is replete with political uncertainty and the continued loss of various icons.

Even so, the benchmark Straits Times Index (STI) ended Tuesday's session - the first trading day after Christmas - 14.71 points or 0.51 per cent higher at 2,885.76, led by a rally in banking stocks.

Still, investors away on holidays and in hibernation mode meant that turnover was a thin 601.1 million units worth S$363.5 million, a far cry from the S$1.3 billion average seen since Donald Trump won the US presidential election on Nov 8. Excluding warrants, there were 188 rises versus 174 falls.

Although the post-Trump rally seems to have fizzled over the past six weeks, US stocks kept the holiday spirit alive on Friday - the last trading day before Christmas - by ending the day in the green. Also helping to add some cheer was the 10-year US Treasury yield extending gains by almost one per cent on Tuesday, more than rec…