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S'pore stocks rise to highest level since 2007 after Fed rate cut

The Straits Times

|

September 20, 2024

The jumbo rate cut by the US Federal Reserve overnight turbocharged shares here to their highest level since November 2007.

- Yong Jun Yuan

Local investors gleefully piled into the market on Sept 19 to send the Straits Times Index (STI) up 1.1 per cent or 40.76 points to 3,633.18, with 27 of the 30 counters ending in the black, while three closed flat.

Across the broader market, trade was robust as well, with gainers trouncing losers 415 to 210 after 1.4 billion securities worth $1.6 billion changed hands.

CapitaLand Investment was the STI's top gainer, rising 4.5 per cent to $3.05.

The Straits Times से और कहानियाँ

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Forget gold. Aluminium is the real metal of the moment

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time to read

1 mins

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ATHLEISURE RENEWED

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8 mins

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Tech sector sees layoffs amid rising Al use

The axing of 14,000 roles announced by Amazon on Oct 28 comes amid increasing use of artificial intelligence (AI) tools for routine tasks.

time to read

3 mins

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Manpower Perm Sec Ng Chee Khern to retire; changes to other posts

Manpower Permanent Secretary Ng Chee Khern will retire on Dec 1, marking an end to 41 years in the public service during a career filled with distinction.

time to read

2 mins

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