Market View: S&P 500 closes above 5,400 for the first time, Cooler-than-expected US May inflation, Jerome Powell on not cutting rates, Ant Group spent record 21.2 billion yuan on research, Broadcom stock split and more

The Evening Runway with Hongbin Jeong, Roshan Gidwani and Chua Tian Tian

Singapore equities began trading in positive territory today, as global sentiment remained upbeat after data showed US consumer prices were unexpectedly unchanged in May.

The Straits Times Index (STI) opened 0.6 per cent higher at 3,326.33 points after 64 million securities changed hands in the broader market.

In terms of companies to watch, we have Mapletree Logistics Trust. The trust’s manager said it will divest its entire equity interest in its wholly foreign-owned enterprise, Mapletree Logistics Warehouse (Xian), for an estimated price of 70.5 million yuan (S$13.1 million).

Elsewhere from the US Fed Chair Jerome Powell’s explanation as to why officials are not ready to cut rates, to how Tesla shareholders voted yes to Elon Musk’s US$56 billion pay package – more international and corporate headlines remain in focus.

On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Terence Wong, CEO, Azure Capital.

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