News @ AsiaOne

STI surges 5.8% in 'a day of comebacks'

Historic US bailout and initiatives from China lift investor sentiment. -ST

Sat, Sep 20, 2008
The Straits Times

By Alvin Foo, Markets Correspondent

AFTER suffering through four harrowing days of declines, Singapore's investors yesterday pounced on a triple treat of bright news, powering the badly bruised local market to a whopping 5.8 per cent rise.

The result was a 140-point surge for the STI to 2,559.07 - its biggest one-day gain since August last year.

That, however, was not enough to ensure a net gain for the week. The earlier blood-letting meant the STI still ended the week down 11.6 points.


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