Driven by Wall Street

WALL Street's return to "bad economic news is good for stocks" principal has probably been the main driving force behind the Straits Times Index's 205 points or 7.3 per cent rise over the week to 2,998.5, of which 51.47 points came on Friday.

Also helping has been a relatively stable China market, given the massive volatility it displayed last month.

Here, the overwhelming focus has been on blue chips throughout the past month, almost to the exclusion of the rest of the market. For most of the year up to September, a ballpark estimate of the pro…