Singapore Shares Rise 0.4% on Renewed Optimism Over Fed Rate Cuts -- Market Talk

Dow Jones04-04

0927 GMT - Singapore's FTSE Straits Times Index rose 0.4% to close at 3235.01, as sentiment was lifted by renewed Fed rate-cut hopes. Fed Chair Powell reiterated his expectations for lowering rates "at some point this year," IG market analyst Yeap Jun Rong said in an email. "It seems to be a regurgitation of his usual script, but markets may find some reassurances in his words for impending rate cuts," he added. Sembcorp Industries rose 2.8%, Mapletree Logistics Trust added 2.0% and OCBC gained 1.2%. Best World International closed 8.6% higher after its majority owners offered to take the company private. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

April 04, 2024 05:27 ET (09:27 GMT)

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Sembcorp Industries rose 2.8%, Mapletree Logistics Trust added 2.0% and OCBC gained 1.2%. Best World International closed 8.6% higher after its majority owners offered to take the company private. 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