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Singapore shares finish higher for the week as Trump-inspired "risk on" is still in force
THE "risk-on" rally in equities inspired by Donald Trump's win in the Nov 8 US presidential election continued into its second week, helped along by firmer oil prices and expectations of a stronger US economy under Mr Trump.
The Straits Times Index over the five days gained 21 points or 0.7 per cent at 2,859.33, of which 15.61 came on Friday, largely courtesy of rises in Singtel, DBS and OCBC.
Turnover remained just above S$1 billion throughout the week; on Friday, 1.7 billion units worth S$1.2 billion were traded as the market recorded 241 rises versus 171 falls. Brokers estimate S$1 billion to be the daily breakeven level for the industry.