STI rebound continues on relief rally hopes

THE Straits Times Index rose 27.07 points to 2,895.81 on Thursday as traders continued to buy in anticipation of a "relief rally" if the US Federal Reserve keeps interest rates unchanged at its Federal Open Market Committee meeting later on Thursday.

Turnover was in line with recent soft-to-mediocre averages at one billion units worth S$1.2 billion and excluding warrants, there were 221 rises versus 161 falls.

Overall, trading lived up to prior expectations - it was cautious and narrowly focused as players waited to see whether the Fed would raise rates or postpone the decision till December or even later.