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Banks were key drivers behind recent STI surge, says SGX
They make up a third of STI’s weighting.
The big three banks were among the key drivers of the STI’s recent surge, according to the SGX.
SGX noted that the banking sector was one of the key segments that recently boosted the STI to the 3,500 level, as DBS Group Holdings (DBS), Oversea-Chinese Banking Corporation and United Overseas Bank (UOB) account for almost one-third of the STI’s weighting.
The Straits Times Index is currently hovering at around 3,500. This is approximately 135 points higher than its close at the end of 2014 and double the levels of April 2009 when the initial recovery from the global financial crisis began.
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