01 Jul '11, 8am

IM$avvy Headlines: STI soars with approval of Greek plan #Singapore #investment #finance

INVESTORS across the globe rejoiced at the Greek Parliament's approval of austerity measures yesterday - extending market rallies in both Asia and Europe. Greek politicians had voted to approve the tough budget cuts aimed at saving the country from defaulting on its debts. In Singapore, the benchmark Straits Times Index soared 40.7 points, or 1.32 per cent, to 3,120.44. Market volumes were at their most robust in months, with 1.41 billion shares worth $2.17 changing hands. At the end of June, the total market capitalisation of companies listed in Singapore stood at $838 billion, up 16 per cent from a year ago. Phillip Securities analyst Phua Ming-weii said he has had to rethink his earlier market forecasts, given the current exuberance. 'We have been saying that markets will hold back the bull run until July or August on three counts: Euro zone debt, the end of QE2, and th...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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