Market Update: STI up 0.34% ahead of Fed meeting

The Straits Times Index closed up 0.34% or 10.86 points to end at 3,204.90 on Monday.

The rise was in line with major Asian markets, which all posted gains ahead of the next policy meeting of the US Federal Reserve.

Top performers for the day were Yangzijiang Shipbuilding with 2.13% or $1.44 in gains, Mapletree Logistics Trust which rose by 2.03% or $2.01, and Singapore Airlines which went up 1.99% or $5.13.

About 1.67-billion securities worth $1.30b changed hands, with stock advancers outnumbering decliners, 316 to 175.

Meanwhile, Wall Street indexes traded mixed, as investors prepare for earnings season and ahead of the Federal Reserve meeting.

S&P 500 inched up 0.18% or 7.45 points at 4,187.62, whilst the Dow Jones Industrial decreased 0.18% or 61.92 points at 33,981.57. NASDAQ went higher by 0.87% or 121.97 points at 14,138.78.

The London blue-chip index also started the week in green, mainly due to rise in travel stocks, amidst announcements that the European Union may reopen its borders to non-essential travel from the US by summer.

FTSE 100 climbed 0.35% or 24.56 points to close at 6,963.12, whilst the FTSE 250 edged up 0.92% or 205.08 points at 22,577.34.