STI gets boost from month-end window-dressing

HELPED by plenty of month-ending window-dressing, Fri-day's session gave plenty of relief to battered stocks here, with the Straits Times Index surging 66.66 points or 2.6 per cent to 2,629.11.

Turnover also picked up, rising to a week-high 1.2 billion units worth S$1.4 billion, and excluding warrants, there were 298 rises versus 103 falls. The month-end push enabled the STI to record a gain of 52 points or 2 per cent for the week, and reduced its loss for the month/year to date to 8.8 per cent.

As expected, the US Federal Reserve kept interest rates unchanged at this week's Open Markets Committee meeting, while the European Central Bank continued with its hints of more easing.