Singapore Shares Open Higher on Soft US Inflation Data
MT Newswires
Jul 15
Singapore shares opened on a positive note on Wednesday, driven by less-than-expected US inflation, leading to reduced expectations of the Federal Reserve raising interest rates.
The Straits Times Index opened up 0.3%, or by 17.61 points, at 5513.22.
The sentiment was led by gains recorded on Wall Street overnight on the back of softer June inflation and growing interest in AI tech shares. The inflation data could give the Federal Reserve more room to keep the interest rates unchanged.
Investors, however, will be cautiously eyeing the geopolitical developments, especially in the Middle East.
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.