Strong finish to local market as Fed decides not to taper

Singapore shares raced to a strong finish on Thursday after the United States Federal Reserve announced that it was going to continue with its bond-buying programme.

The local benchmark Straits Times Index ended the day up 57.93 points, or 1.81 per cent, at 3,251.78.

Markets had been quiet ahead of the Fed announcement as investors were expecting the Fed to say that it would start tapering its stimulus programme, which would have spelled the end of easy money.

Some 5.51 billion shares worth $2 billion changed hands at home.

Gainers outnumbered losers 337 to 142.