Biggest rally in a month for S'pore shares

INVESTORS might finally be able to stop holding their breath. As global markets prepped themselves on Wednesday for a possible and long-anticipated rate hike in the world's largest economy, Singapore stocks staged their biggest rally in nearly a month, reversing a downward trend that had set in early last week.

The benchmark Straits Times Index (STI) climbed 0.9 per cent, moving up 25.4 points to 2,840.92 on the back of gains in property counters and banks, which marked the blue-chip index's largest daily percentage increase since a 1.2 per cent jump on Nov 19.

This came alongside a broad rally in regional bourses, which were a buoyant sea of green. Hong Kong rose 2 per cent and Tokyo's Nikkei shot up 2.6 per cent, while Shanghai edged up by 0.2 per cent. Sydney was also up 2.4 per cent.