Singapore stocks rose this morning, despite overnight losses on Wall Street and in Europe. 

In early trade, the Straits Times Index climbed 0.2 per cent to 3,249.78 points after some 53.2 million securities changed hands in the broader market. 

In terms of companies to watch, we have for you OCBC, after the bank announced that net profit for its first quarter rose 39 per cent to a record S$1.88 billion, bolstered by strong net interest income growth. 

Meanwhile, investors zoom in on Olam Group after reports said the agri food giant is planning to launch in June a dual IPO of its agricultural unit that could raise up to US$1 billion in Singapore and Saudi Arabia. 

If actualised, the dual listing would solidify Southeast Asia as a global IPO hotspot and give a lift to Singapore’s IPO activity. 

Elsewhere, all eyes are on April’s US consumer inflation due later tonight. That’s as traders continued to watch President Joe Biden and top lawmakers’ attempt to break a deadlock over raising the US$31.4 trillion US debt limit. 

On Market View, the Drive Time team unpacked these developments with Carmen Lee, Head of OCBC Investment Research.