Singapore shares are expected to trade higher on anticipation the US central bank will again cut interest rates, dealers said. For the week ended October 26, the Straits Times Index (STI) rose 23.57 points, or 0.63 percent, to 3,771.55.
Average daily volume was 2.41 billion shares valued at 2.95 billion Singapore dollars (2.02 billion US), compared with 2.79 billion shares worth 2.88 billion dollars the previous week.
The Federal Reserve is expected to cut interest rates in the United States in a bid to perk up spending and cushion the impact of a crisis in the subprime credit market on the general economy. Most in the markets believe the Fed will announce a 25 basis point cut on Wednesday as it tries to keep the world's largest economy out of a recession. The US central bank slashed borrowing costs last month.
Comments
Comments are closed.