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STI rises on further reopening of borders; tracks Wall Street gains on stimulus hopes

Thiveyen Kathirrasan and Felicia Tan
Thiveyen Kathirrasan and Felicia Tan10/12/2020 12:40 PM GMT+08  • 1 min read
STI rises on further reopening of borders; tracks Wall Street gains on stimulus hopes
The Straits Times Index (STI) gained 1.2% to 2,547.77 as at noon on Oct 12 from 2,517.23 previously.
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The Straits Times Index (STI) gained 1.2% to 2,547.77 as at noon on Oct 12 from 2,517.23 previously.

The higher numbers tracked Wall Street gains after US President Donald Trump proposed a US$1.8 trillion ($2.44 trillion) stimulus proposal – the highest from the Trump administration so far – on Oct 9.

This week, gainers outpaced losers with Venture Corporation leading the charge at a 4.7% w-o-w gain.

Shares in Jiutian Chemical, Sembcorp Marine, Kimly, Medtecs International and Aspen rounded up the top five most-traded counters, with 1.72%, 7.55%, 7.38% and 4.65% increases respectively.

The positive outlook also comes on the back of discussions over plans to reopen international travel with Australia.

Furthermore, Singapore announced today, that it will establish a reciprocal green lane for travel with Indonesia.

Previously, the republic launched similar arrangements with other countries such as Brunei, China, Japan, Malaysia, and South Korea.

Read all the STI watch articles here.

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