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STI rises to 14-month high on strong news flow from Europe and US

Published on Oct 5, 2012 5:35 PM

SINGAPORE shares soared, with the benchmark Straits Times Index racing to a 14-month high. The index added 21.23 points or 0.7 per cent to 3,107.87.

Investor confidence received a shot in the arm after the European Central Bank said it would buy bonds to ease the euro-zone's debt malaise. Better than expected macro data from the United States fuelled more optimism in stock markets across Asia.

Gainers led losers 246 to 151 while 399 counters were unchanged. Turnover stood at 1.27 billion shares worth $1.19 billion.