Singapore stocks track 5th weekly gain; FX up on bets of big US rate cut

Quick Summary:

SINGAPORE stocks were set for their fifth straight weekly gain on Friday as the island state's strong economic outlook boosted investor sentiment, while Asian currencies firmed for the day on revived bets of a bigger rate cut in the United States.

Stocks in Singapore rose 0.3% by 0622 GMT, hovering around the more-than-six-year-high notched on Thursday.

The Thai baht gained as much as 0.5%, hitting its highest in more than 18 months as lawmakers move to boost Southeast Asia's second largest-economy.

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Category: EconomyBusiness

Markets: MalaysiaIndonesiaSouth KoreaSingaporeTaiwanThailandUnited States

Topics: Interest rate Forex MAS /Business/Business News Economy Asian Monetary Authority of Singapore Markets Currencies

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-13 @ 15:37:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 427 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22486853

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Main Topics: EconomyBusiness

Official Website: thestar.com.my

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