STI up 1% on positive US earnings news

The three local banks led the winners, with each finishing between 0.9% and 1.5% higher

Published Thu, Jul 19, 2018 · 09:50 PM

TRACKING stronger performances from the US markets on positive earnings news, the Straits Times Index (STI) rallied from its flat finish a day before to end higher on Thursday.

It advanced 37.08 points or 1.1 per cent to end at 3,277.58. About 1.16 billion shares worth S$965.9 million changed hands, versus 1.43 billion worth S$1.02 billion on Wednesday. Gainers outnumbered losers 228 to 159, or about 10 stocks up for every seven down.

All three banks finished higher, with United Overseas Bank ending 1.5 per cent or 39 Singapore cents higher at S$26.28. DBS Bank gained 24 Singapore cents or 0.93 per cent to finish at S$26.10, while Oversea-Chinese Banking Corporation ended trading at S$11.25, having gained 10 Singapore cents or 0.9 per cent.