Singapore Shares Open Higher on Hopes of Resolution to Middle East Crisis

MT Newswires

07/29

Singapore shares opened with gains on Wednesday as hopes for a diplomatic solution to the Middle East conflict led to an easing of global oil prices.

The Straits Times Index was up 0.08%, or 4.51 points, to open at 5,611.590.

Sentiment received a boost following a high-stakes meeting between US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu at the White House on Tuesday.

This marks their first in-person talks after the Middle East war began earlier in the year. The talks prompted hopes for renewed peace efforts, while lower oil prices are also expected to reduce the pressure on the US Federal Reserve's interest rate decision later this week.

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