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Possible slowdown in Fed rate hikes lifts STI
The STI rose 0.4% to 3,259.14 on 5 December.
The Securities Investors Association (Singapore) said Fed Chairman Jerome Powell’s comments on the possibility of a slower rate hike helped lift Singapore stocks.
On 5 December, the Straits Times Index rose 0.4% to 3,259.14.
“The Straits Times Index enjoyed yet another firm week on the back of rising hopes that the US Federal Reserve will soon slow down the pace of its interest rate hikes,” the SIAS said.
Apart from the rate hike slowdown, SIAS said the spot of month-end “portfolio rebalancing’’ also helped the STI post a 15-points gain for the week.
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