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Singapore stocks end Wednesday higher, STI climbs 0.78 per cent to 2,505.15

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SINGAPORE stocks ended higher on Wednesday, ahead of the US Fed policy meeting and amid optimistic rhetoric about coronavirus vaccines. Read more at The Business Times.

At the other end of the spectrum, the three local banks - DBS, OCBC and UOB - ended the day weaker. In fact, UOB was the weakest of all the STI component stocks on Wednesday, falling 0.62 per cent to close at S$19.30.This came after the company made a further announcement related to its proposed disposal of its 6 per cent stake in Espressif Systems , a company listed in China that currently has a market capitalisation of 13.4 billion yuan .

On the coronavirus front, US President Donald Trump said that the US might have a vaccine ready in four weeks. Drug giant Pfizer is reportedly seeing promising results in a current test. Separately, a Chinese scientist was quoted saying that China may have coronavirus vaccines ready for public use as early as November.For daily updates on weekdays and specially selected content for the weekend.

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