STI gains on S$48b virus relief package

SINGAPORE stocks closed higher on Friday, a day after the government announced a S$48 billion relief package to cushion the impact of the Covid-19 pandemic.

The Straits Times Index (STI) gapped up to a strong opening before drifting lower, closing 1.66 per cent or 41.20 points higher at 2,528.76.

It finished the week up 118.02 points or 4.9 per cent. About 1.35 billion securities worth S$1.92 billion changed hands on Friday. Gainers outnumbered losers 329 to 147.