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Singapore: Stocks close marginally higher on optimism US rates won't be raised soon


The Straits Times Index on Wednesday rose 3.22 to 3,440.83 and the entire market recorded 240 rises against 193 falls in response to all-time highs recorded by Wall Street's major indices overnight.

Those gains came amidst optimism that the US Federal Reserve is in no hurry to raise its short-term interest rates, following Fed chief's testimony to the Senate Banking Committee.

Jardine Matheson provided the biggest positive support to the STI and Genting Singapore the biggest drag. The latter was also the day's most active stock - disappointing earnings resulting in the counter losing S$0.065 or 6.2 per cent at S$0.98 with 130.3 million shares traded.

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