STI and DBS hit new records amid hopes of US Fed rate cut

The blue-chip gauge of the Republic, the Straits Times Index (STI), soared to a new record of 4,395.21 points on Oct 2 after surging 72.09 points or 1.7 per cent, fuelled by the expectation of an interest rate cut by the US Federal Reserve.

- Tay Peck Gek

The STI broke the previous record of 4,355.82 that it reached on Sept 11, with all but two of the 30 component stocks ending higher on Thursday. Thai Beverage and Wilmar International shares were unchanged at 46.5 cents and $2.88 respectively at market close.

DBS also clocked a record high at $52.84, after rising 2.4 per cent. UOB shares increased 1.1 per cent to $35.07 and those of OCBC were up 1.5 per cent at $16.76.