by R SIVANITHY (8 Sept)
News that the US government is to bail out Freddie Mac and Fannie Mae sent the US futures market up sharply this morning, prompting a wave of short-covering throughout the region that helped lift the Straits Times Index up 100.51 points or 3.90 per cent to 2,674.72.
Despite the large bounce however, brokers were sceptical that it would last, many pointed to the March bailout of Bear Stearns as triggering a rally that ultimately did not last.
-Editorial Report by R SIVANITHY (8 Sept)
News that the US government is to bail out Freddie Mac and Fannie Mae sent the US futures market up sharply this morning, prompting a wave of short-covering throughout the region that helped lift the Straits Times Index up 100.51 points or 3.90 per cent to 2,674.72.
Despite the large bounce however, brokers were sceptical that it would last, many pointed to the March bailout of Bear Stearns as triggering a rally that ultimately did not last.
-Editorial Report by R SIVANITHY (8 Sept)
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