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STI gains 1% on Friday, 2% for the week
IT was a Trump reflationary play that helped the Straits Times Index on Tuesday regain the 3,000 mark lost since early November 2015, and it was Trump-related disappointment that dragged the STI below that level two days later on Thursday.
On Friday however, the index managed to regain it when it jumped 32.07 points or one per cent to 3,025.07, albeit in mediocre volume of S$1.7 billion units worth S$1.1 billion and with more than a hint of short-covering in the air. Excluding warrants the advance-decline score was 239-198 - much closer than the index's strength would suggest.
The Dow futures on Friday traded about 20 points higher during the day but stood only 8 points up at 5pm. For the week, the STI gained 60 points or 2 per cent.