SGX Singapore Closing Market Update : Epic Research Singapore

THE Straits Times Index on Thursday managed to advance further into the black for 2016 when it rose 23.52 points to 2,913.93, thus bringing its gain for the year to date to 32 points or 1.1 per cent.

Some observers attributed the rise to the Monetary Authority of Singapore's (MAS's) surprise decision to allow a gradual depreciation of the Sing dollar against its basket of currencies.

For example, Rabobank in its daily notes said of the rise in Asian stocks that market sentiment in Asian markets got a boost from Singapore's central bank trying to restart the economy by returning to a policy of zero per cent exchange rate appreciation.

"This is raising speculation that other central banks in the region may follow this path as well," said the bank.

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