STI Opens Firmer Amid Regional Cues, Cautious Optimism Ahead Of China GDP Data
As of 9.05 am, total market turnover stood at 84.53 million units with a value of S$117.18 million. Market breadth was positive with 99 advancers against 59 decliners.
The broader mood in Asia remains cautiously optimistic as investors await China's second-quarter GDP figures and June industrial output, both expected to provide direction for regional markets, including Singapore's. Recent upbeat Chinese trade and loan data have buoyed expectations of sustained momentum in Asia's largest economy, potentially benefiting Singapore's export-linked sectors.
Blue chips opened mixed, with DBS easing 0.43% to S$46.09, while OCBC held steady at S$16.98 and UOB was flat at S$36.68. Singapore Airlines opened at S$7.34, unchanged, as global travel stocks remain in focus ahead of upcoming earnings season.
REIT indices also saw little movement in early trading, with the iEdge S-REIT Leaders Index at 1,029.49. Investors remain attentive to interest rate cues, especially amid growing bets of a pause in the US Federal Reserve's tightening cycle.
All eyes are now on China's economic releases later this week, which could set the tone for the rest of the month across Asia-Pacific markets. Related
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