STI inches up for second day running
0.4% rise to 2,863.65 comes after overnight pickup on Wall Street; trading volumes also up
'TIS the season for dashed hopes, it seems. A day ahead of Thursday's truncated trading session and Friday's public holiday, the local market put in a last-gasp effort to climb out of the ditch it has recently got stuck in but clearly found it difficult to escape the pull of gravity.
To its credit, the benchmark Straits Times Index (STI) managed to rise 0.4 per cent or 10.68 points to reach 2,863.65 points on Wednesday, extending its gains to make it a two-day streak. In percentage terms, its performance was also an improvement over Tuesday's mild 0.3 per cent advance.
But, as usual, the blue-chip index was still nowhere near 3,000 and looks on track to finish the year below this psychologically significant mark.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard