STI rises for fifth time in six days
Upsurge is in response to an overnight jump on Wall Street and a 40-point rise in the Dow futures
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THE Straits Times Index (STI) on Tuesday rose for the fifth time in six days, gaining 34.06 points at 2,951.81 in response to an overnight jump on Wall Street and a 40-point rise in the Dow futures. Turnover amounted to 1.3 billion units and S$1.2 billion; and excluding warrants, there were 264 rises versus 134 falls.
The STI's rise was driven largely by the banks, though Singtel was the largest single index mover, its S$0.10 rise to S$3.96 on volume of 31 million adding 10 points to the index.
Although the US market's Monday rise was not unexpected - the Dow futures on Monday had staged a large intraday upward reversal, indicating a firm Monday for the US - reasons why the Dow Jones Industrial Average closed above 18,000 for the first time this year were unclear.
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