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Market View: Jerome Powell on reaching 2% inflation target by 2025, 2026; Wall Street optimism; Singapore banks maintain rising trajectory, DBS, OCBC soars to record highs; China’s services activity expanded at slowest pace in eight months; EU draws up plans to impose custom duties on cheap goods from Temu, Shein and more
Singapore equities maintained their strong uptrend this morning after global equities ended mixed overnight. In early trade, the Straits Times Index (STI) climbed 1 per cent to 3,401.7 points after 36.9 million securities changed hands in the broader market. In terms of developments to watch, we have Keppel, after it merged two indirect wholly owned subsidiaries, Keppel Fund Management and Keppel Capital Alternative Asset, to streamline the company’s organisational structure. Elsewhere, from Fed Chair Jerome Powell’s comments on inflation at a forum on central banking to Chinese services…
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