Singapore stocks expected to open higher, driven by global market optimism and potential interest rate adjustments

From Nasdaq MarketSite: 2024-08-25 20:04:24

The Singapore stock market is expected to open in the green on Monday with two consecutive sessions of gains. The Straits Times Index is just below the 33,900-point mark, driven by optimism over interest rates in global markets. On Friday, the STI closed higher by 0.43 percent at 3,387.99, supported by varied performances across financial, property, and industrial sectors. Wall Street ended positively on Friday with the Dow rising 1.14 percent, NASDAQ up 1.47 percent, and S&P 500 advancing 1.15 percent. Federal Reserve Chair Jerome Powell’s comments hint at potential interest rate adjustments in September. New home sales in the U.S. surged in July, contributing to market optimism. Oil prices saw a strong rally on Friday, with West Texas Intermediate crude surging to $74.83 a barrel, despite a weekly decline.



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