The Straits Times Index (STI) ended 14.32 points or 0.5% higher to 2870.26, taking the year-to-date performance to -14.71%. The top active stocks today were Hongkong Land, which gained 0.86%, DBS, which gained 0.30%, SingTel, which closed unchanged, OCBC Bank, which closed unchanged and Global Logistic, with a 2.54% advance. The FTSE ST Mid Cap Index gained 0.68%, while the FTSE ST Small Cap Index rose 0.40%.AFTER Tuesday's play influenced by the inclusion of the Chinese currency in the International Monetary Fund's (IMF's) basket of reserve currencies, the market's attention on Wednesday turned to Thursday's European Central Bank policy meeting at which more monetary easing is expected and to China, where hopes of more easing helped push stocks higher.
The Straits Times Index managed a second consecutive rise of 13.38 points to 2,883.64. Volume, which spiked up on Monday to S$1.7 billion most probably because of month-ending window-dressing, amounted to 945.3 million units worth S$1.06 billion, much more in line with recent averages. Excluding warrants, there were 204 rises versus 180 falls.
In the offshore and marine sector, shares of SembCorp Marine (SMM) plunged S$0.09 or 4.4 per cent to S$1.97 on volume of 6.1 million after the company on Tuesday issued a profit warning.
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