STI moves into positive territory for 2016

Thanks to large-scale central bank intervention, the Straits Times Index on Friday moved into positive territory for 2016 when it jumped 26.63 points or 0.9 per cent to end at 2,906.8.

It was the first time the STI closed in the black since the index ended 2015 at 2,882.73. The push was led by the three banks and Singtel - turnover in the 30 STI stocks amounted to S$1.2 billion, about 71 per cent of the total dollar volume of S$1.7 billion that was done by the whole market. Most of the index's gain came in the final seconds of trading and was probably in anticipation of a Wall Street rally on Friday.

For the week, the STI gained 78 points or 2.8 per cent; for the year to date, it is now up 24 points or 0.8 per cent.