GAINS in the three banks and Singtel helped the Straits Times Index (STI) rise 18.79 points to 3,470.80 on Monday, albeit in one of the lowest one-day turnovers this year - 1.1 billion units worth S$801.7 million.The broad market excluding warrants recorded 221 rises versus 179 falls in a session that was described as quiet and unremarkable by most dealers.
Wall Street's Friday jump may have contributed to the STI's gain as did news that China cut interest rates over the weekend. However, brokers were quick to predict that the momentum would probably not last.
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