STI ends Friday up 1.04%

The benchmark Straits Times Index (STI) surged 32.41 points, or 1.04 per cent, toclose at 3,150.44 on Friday. For the week, the STI added 0.83 per cent.

Trading volumes remained modest on Friday, with just 1.77 billion shares valued at $1.59 billion changing hands.

Dealers said the day's rise could also be due to "window dressing", as Friday marked the final trading session for the first half of the year.

Window dressing involves parties with vested interests propping up share prices by buying index heavyweights such as SingTel and bank stocks to make themselves look good in annual reviews.

But for the most part, the local market responded to positive leads overnight and in the region.

Wall Street's 0.77 per cent rise on Thursday set the scene for a bright session in Asia, and the upbeat mood was further boosted by positive manufacturing and inflation data from Japan.

Japan's Nikkei 225 saw the strongest gains, up 3.51 per cent. Hong Kong was 1.78 per cent higher, South Korea surged 1.56 per cent, while Shanghai ended 1.50 per cent in front.

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