THE Straits Times Index (STI) rose 27.07 points to 2,895.81 on
Thursday as traders continued to buy in anticipation of a "relief rally"
if the US Federal Reserve keeps interest rates unchanged at its
Thursday Federal Open Market Committee meeting.
Turnover was in
line with recent soft-to-mediocre averages at one billion units worth
S$1.2 billion and, excluding warrants, there were 221 rises versus 161
falls.
Overall, trading lived up to prior expectations - cautious
and narrowly focused as players waited to see whether the Fed would
raise rates or postpone the decision until December or even later.
Among
the STI gainers was Singtel, with a S$0.03 rise to S$3.72 on a volume
of 22.2 million. Nomura in a Thursday report reaffirmed its "buy" on the
stock, pointing out that although for the year to date Singtel has
fallen only 5 per cent versus the index's 15 per cent, from its peak,
the telco is down 17 per cent versus the STI's 18 per cent and that
short selling of Singtel has picked up in recent weeks.
No comments:
Post a Comment