Singapore stocks rebound as STI rises 0.3% on banks’ performance

THE Straits Times Index (STI) ended Wednesday (Apr 17) at 3,154.69, up 9.93 points or 0.3 per cent, signalling that a knee-jerk reaction to a potential war in the Middle East may be coming to an end.

Singapore’s three local banks were the primary reason for the STI’s rebound. DBS : D05 +1.21% and UOB : U11 +1.33% – the most heavily traded counters by value in Singapore – were among the index’s best performers for the day.

DBS ended up 1.2 per cent at S$35.97, and UOB closed 1.3 per cent higher at S$29.61. OCBC : O39 +0.44%, too, gained 0.4 per cent to end at S$13.57.

Fidelity Asian Values Plc (LON:FAS) provides shareholders with a differentiated equity exposure to Asian Markets. Asia is the world’s fastest-growing economic region and the trust looks to capitalise on this by finding good businesses, run by good people and buying them at a good price.

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