Singapore Shares Edge Higher Ahead of Powell Testimony

Dow Jones2023-03-07

Singapore's FTSE Straits Times Index edged 0.2% higher to close at 3245.27 ahead of Fed Chairman Jerome Powell's congressional testimony that will begin later in the day.

The focus will likely be on how Powell views the U.S. labor market and whether the FOMC think that economic conditions have improved or deteriorated since the previous Fed meeting, Michael Hewson, chief market analyst at CMC Markets, says in an email.

REITs were among the best performers on the STI, with Frasers Logistics & Commercial Trust and CapitaLand Integrated Commercial Trust each rising 1.6%, and Keppel DC REIT 1.5% higher.

Meanwhile, Jardine Cycle & Carriage and Yangzijiang Shipbuilding each fell 1.5% and CapitaLand Investment was 1.1% lower.

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Comments

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    2023-03-07
    NoelDarkages
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    2023-03-07
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