The three local banks were all up, with DBS advancing S$0.27 or 1.1 per cent to S$25.06, UOB up S$0.23 or 0.9 per cent to S$26.00, and OCBC gaining S$0.09 or 0.9 per cent to S$10.74.
Most other Asian markets rose on Thursday following a positive lead from Wall Street. US earnings on Wednesday were a mixed bag, but investors remain broadly upbeat after better-than-forecast results so far, which have soothed worries about the impact of slowing economic growth on companies. In early trade, Hong Kong was up 0.6 per cent and Shanghai added 0.3 per cent, while Tokyo went into the break with gains of 0.6 per cent.
Sydney, Wellington, Taipei and Jakarta were also well up. Seoul fell, however, as data showed the South Korean economy grew in the third quarter at a slower pace than expected, putting it on course for the worst annual performance since the global financial crisis.
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Source: The Straits Times - 🏆 8. / 63 Read more »