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Singapore shares rise 0.6%, led by Banks, REITs

Dow Jones Newswires · Jul 28, 2021 21:36

FTSE Singapore Straits Time Index +1.47% OCBC Bank +1.37% DBS Group Holdings +1.61%

0116 GMT - Singapore's $FTSE Singapore Straits Time Index(.STI.SG)$ rises 0.6% to 3160.26 after Fed Chair Powell signaled substantial further progress in the U.S. labor market would be needed before the central bank begins to taper monetary stimulus.

Gains on the STI are led by banks after Singapore's central bank said Wednesday it will lift dividend restrictions on local banks and finance companies.

$OCBC Bank(O39.SG)$ rises 1.3%, UOB adds 1.1% and $DBS(D05.SG)$ is up 0.6%. REITs are also higher, with $Mapletree Ind Tr(ME8U.SG)$ gaining 1.0% and $Keppel DC Reit(AJBU.SG)$ up 0.8%. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 28, 2021 21:16 ET (01:16 GMT)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

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In Malaysia, investment products and services available through the moomoo app are offered through Futu Malaysia Sdn. Bhd. ("Moomoo MY")regulated by the Securities Commission of Malaysia (SC). Futu Malaysia Sdn. Bhd. is a Capital Markets Services Licence (License No. eCMSL/A0397/2024) holder. This advertisement has not been reviewed by the SC.

Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.，Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc., and Futu Malaysia Sdn. Bhd. are affiliated companies.

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