FX.co ★ Shares in Singapore Hits New Peak in Afternoon Deals

In Thursday afternoon trading, the Straits Times Index climbed 56 points, or 1.3%, reaching a new pinnacle of 4,473. This uptick followed two days of downturn, buoyed by an overnight upswing on Wall Street. Investor confidence was lifted by stronger-than-anticipated U.S. economic data and diminished concerns over inflated tech valuations. Domestically, Singapore's retail sales saw a seventh consecutive month of growth in September, although the growth rate decelerated. On the policy spectrum, the Monetary Authority of Singapore maintained its monetary stance unchanged in October, citing the economy's robustness despite international trade pressures. Nevertheless, the market's upward movement was somewhat restrained by cautious anticipation of critical economic data from China, a key trading partner, particularly regarding October's trade and pricing statistics. Overall, most sectors experienced growth, with retail, manufacturing, and financial sectors leading the charge. Notable gainers included DBS Group at 3.6%, OCBC at 1.1%, Singapore Telecommunications at 4.0%, Yangzijiang Shipbuilding at 3.6%, and SIA Engineering at 4.5%.