STI shrugs off US worries to end 0.54% up

MOST stocks in Singapore continued to extend the rally since the start of the year, shrugging off a looming US government shutdown as investors bet on a positive earnings season so far.

Late on Sunday, the Senate scheduled a vote on a stopgap spending measure for noon on Monday (1am Tuesday Singapore time), ensuring the federal government would stay shut in the morning and leaving workers uncertain how long it would last.

Analysts see minimal impact on the US economy from a short-term government shutdown, but warned a prolonged stalemate in Washington could dampen confidence in US assets.