Singapore Shares Climb To New Peak Amid Global Market Rally
Financial heavyweights led the charge, with DBS Group Holdings gaining ground ahead of its upcoming earnings announcement. The banking sector, along with property and telecommunications stocks, saw broad-based buying interest as investor sentiment remained upbeat.
The bullish momentum in Singapore mirrored gains across Asian markets, which tracked the strength in US equities following better-than-expected retail sales and labour market data.
Traders interpreted the strong economic readings as signs of resilience, adding to optimism over corporate earnings both in the US and Asia.
Foreign participation in the Singapore market also remained firm, supporting large-cap stocks and lifting the STI to fresh highs. Analysts noted that the rally was underpinned by growing confidence in the region's economic outlook and hopes that upcoming earnings releases will validate the market's positive trajectory.
Despite lingering concerns over global trade tensions and inflationary pressures, market participants remained focused on fundamentals, with strong corporate guidance and macro indicators offering reassurance.
Outlook: With key earnings reports and regional economic data due in the coming weeks, investors will be watching closely to see if the market can maintain its upward momentum or if profit-taking sets in at these elevated levels. Related
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