Singapore, Jan. 20 -- The benchmark Straits Times Index (STI) registered modest gains of 0.18 per cent, or 5.52 points, yesterday. Still, it was a whisker shy of the 3,000 mark - at 2,995.92 points at the close.
Jefferies' global equity strategist Sean Darby is modestly bullish about Singapore shares, and said the dividend discount model suggests that the STI should trade around 3,200. He said booming money supply and a strong balance of payments are keeping liquidity conditions ample, while the dividend story remains intact.
Gainers outnumbered decliners 287 to 195 on the broader market yesterday, with $1.4 billion transacted over 2.93 billion securities.
Mainboard-listed Fu Yu Corp was one of the biggest decliners after it lifted it...