The Straits Times Index climbed 48 points, or 0.9%, to 5,005 in Wednesday morning trade, tracking a rally in US futures after US President Trump announced a two-week ceasefire between the US-Israel coalition and Iran. The benchmark rebounded from losses in the previous session, reaching its highest level since February 25. Gains were broad-based, with almost all sectors in positive territory, including commercial services, non-energy minerals, technology, and finance.
Still, traders remained focused on next week’s monetary policy meeting, as February inflation cooled from January’s 13-month high, even as rising oil prices in March threatened renewed upward pressure on inflation. Early outperformers included Hongkong Land Holdings, up 4.4%; City Developments, up 3.2%; Mapletree Industrial Trust, up 2.6%; and Singapore Airlines, up 2.3%.
