STI up on Wall Street's rally as Fed clarifies rate hike trajectory

SINGAPORE shares rose, led by a broad-based rally in Wall Street overnight as the US Federal Reserve provided clarity on its rate hike trajectory, easing some of the angst over the Russia-Ukraine crisis.

The key Straits Times Index (STI) inched up 9.25 points or 0.29 per cent to 3,253.65 on Thursday (Mar 3) alongside gains across major equity gauges except for China.

On the back of a surge in crude prices, oil plays on the Singapore Exchange saw galvanised trading. Both RH Petrogas and Rex International continued their upward trajectory and hit levels last seen in 2015 and 2014, respectively.