Market View: DBS sells majority stake in AXS; China signals more economic support measures; Amro cuts ASEAN+3 inflation forecast; BoK to keep policy rates unchanged; South Korea’s nuclear power-linked stocks surges on possibility of new atomic plant; US inflation expectations

Your Way Home with Hongbin Jeong · Jul 11, 2023 · 11m

Singapore stocks were higher at the open, following cautious sentiment in Wall Street as investors await critical inflation data out of the US. In early trade, the Straits Times Index (STI) rose 0.3 per cent to 3,160.10 points after 38.5 million securities changed hands in the broader market. In terms of companies to watch for today, we have DBS, after the bank agreed to sell a 77.8 per cent stake in electronic payment services provider AXS to private equity firm Tower Capital Asia. Elsewhere, from China signalling more economic support measures to inflation forecasts for Asean +3 and the US…