Singapore stock market to open higher on Wall Street gains
THE local stock market is expected to open higher on the back of Wall Street stock gains.
This, after Wall Street stocks finished with large gains on Wednesday after traders viewed new Federal Reserve meeting minutes as a sign the US central bank will remain dovish on monetary policy.
The Dow Jones Industrial Average jumped 274.83 points (1.64 per cent) to 16,994.22. The broad-based S&P 500 gained 33.79 points (1.75 per cent) to 1,968.89, while the tech-rich Nasdaq Composite Index soared 83.39 points (1.90 per cent) to 4,468.59.
Minutes from the Fed's September meeting showed that policymakers are cautious about rushing into rate hikes, and are worried that the US dollar is rising too fast. This allayed fears that an interest rate hike would come sooner than expected.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife