Singapore, regional markets surge on receding US inflation fears
OCBC, DBS finish at 52-week highs, while UOB ends a mere two cents below its 52-week high.
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SINGAPORE and other regional markets surged on Wednesday, on receding inflation fears that had been stoked by the recent rise in US Treasuries yields.
Singapore's blue-chip barometer, the Straits Times Index (STI), rose 26.5 points or 0.89 per cent to 3,000.37. Gainers outnumbered decliners 251 to 229 in the broader market.
The STI saw DBS and OCBC hitting their 52-week high at S$27.48 and S$11.25 respectively, up 2 per cent and 1.53 per cent. UOB, in contrast, was only two Singapore cents shy of reaching 52-week high at S$25.34.
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