Banks were among top performers among financials, with the S&P 500 bank index up 2.6% following a rise in the benchmark U.S. 10-year Treasury yield, which touched its highest level since April 2021.Higher interest rates can increase profit margins for banks and financial firms.
U.S. inflation data for January is due on Thursday, with markets now pricing in a one-in-three chance the U.S. Fed might hike rates by a full 50 basis points in March.
Ascendas REIT surged 2.86 percent, Genting Singapore rallied 0.65 percent, SATS lost 0.74 percent, Thai Beverage sank 0.75 percent, Wilmar International was up 0.23 percent and Singapore Exchange and Comfort DelGro were unchanged.
Continued Strength Anticipated For Singapore Stock Market<blockquote>新加坡股市预计将持续走强</blockquote>
Singtel(Z74): The telco is expecting to book net tax exposure, interest and penalties amounting to A$304 million (S$295.9 million), it said in an update on Sunday (Dec 19).