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Singapore shares snap losing streak

Published on Dec 13, 2013 7:27 PM

SINGAPORE shares snapped an eight-session losing streak on Friday on bargain-hunting and slightly reduced fears over a cut in United States money printing.

The benchmark Straits Times Index (STI) had lost 4 per cent in its recent string of declines, its longest losing run since August. But it recovered a little lost ground on Friday, gaining 6.98 points or 0.23 per cent to 3,066.02.

The STI lost 48.15 points or 1.5 per cent for the week.

Friday's gains were aided by worse-than-expected weekly jobless numbers from the US, which tempered fears that the Federal Reserve would scale down its bond-purchase programme as soon as next week.

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