The Singapore stock market rebounded on Wednesday, with the Straits Times Index closing just above 4,270 points. Optimism over interest rates globally led to gains in the European and U.S. markets, setting a positive tone for Asian bourses. The STI saw a 1.23% increase, driven by financial shares, industrial issues, and trusts. Major companies like City Developments and SingTel saw significant gains. Wall Street also closed higher, with the Dow rising over 400 points. A potential interest rate cut by the Federal Reserve next month is expected, as per CME Group’s FedWatch Tool, indicating a 93.8% chance of a 25 basis point cut in September. However, crude oil prices fell due to oversupply concerns caused by increased production.

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