Wall Street rally rubs off on local market
STI up 29.1 points, led by banks, Singtel and Jardine C&C; 243-168 advance-decline score suggests gains are not widespread
THERE were no real surprises in Monday's session as the Straits Times Index jumped 29.1 points, or 1.02 per cent, to 2,876.14 in response to Wall Street's Friday rally that took its major indices close to their all-time highs.
Turnover however, was a mediocre 1.4 billion units worth S$928 million and, excluding warrants, the advance-decline score was 243-168, indicating that rises were not as widespread as the index's reading might suggest.
Over in Hong Kong, the Hang Seng Index gained 1.5 per cent and Japan's Nikkei jumped almost 4 per cent. The Dow futures rose 40 points.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong bourse regains favour on hopes of a market revival
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%