Singapore Shares Rise 0.9% Amid Risk-On Sentiment
Dow Jones2023-02-16
Singapore's FTSE Straits Times Index closed 0.9% higher at 3311.23, amid a risk-on mood in Asian markets, following the release of U.S. January retail sales data.
U.S. retail data posted their biggest rise in almost two years, which showed that consumer demand is holding up despite high inflation, says Saxo Markets market strategist Charu Chanana in a note.
Gains were seen across sectors. Keppel DC REIT added 3.0%, while United Overseas Bank gained 2.7% and Mapletree Industrial Trust closed 2.6% higher. Decliners included Thai Beverage, which fell 3.0%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
