Gold bars to be exempt from tariffs, White House clarifies
Investing.com-- Singapore stocks reached a record high on Tuesday, mirroring overnight gains in U.S. markets and reflecting robust performances in Singapore’s banking and industrial sectors.
The Straits Times Index rose as much as 1.2% to 3,983.84 points, their highest level ever. The benchmark index was currently trading 0.8% higher at 3,966.28 as of 02:59 GMT.
Most Asian stocks were higher tracking overnight gains on Wall Street after media reports suggested that U.S. President Donald Trump might take a more measured in imposing reciprocal tariffs next month.
Leading the rally were major banks. DBS Group (SGX:DBSM) shares climbed 1.57%, while Oversea-Chinese Banking Corp (SGX:OCBC) stock rose 1.4%.
United Overseas Bank Ltd (SGX:UOBH) advanced 0.4%.
Industrials and Real estate investment trusts (REITs) also saw notable gains. Capitaland Investment Ltd (SGX:CAPN) jumped 1.8%.
Sembcorp Industries Ltd (SGX:SCIL) shares were 1.1% higher, while Keppel (OTC:KPELY) Corporation Limited (SGX:KPLM) gained 0.5%.