Singapore stocks opened higher today, tracking solid gains in global markets following several major developments in the banking sector worldwide.
Back home, data from Enterprise Singapore also showed key exports contracted for the fifth straight month in February, albeit at a slower pace than the month before, as the decline in non-electronic shipments eased.
The Straits Times Index rose 0.5 per cent to 3,170.38 points in early trade after 148.9 million securities changed hands.
The banking sector in Singapore continues to be in focus today after the Monetary Authority of Singapore said yesterday that the trio of Singapore banks’ exposures to Credit Suisse are insignificant and that the banks are well-capitalised and conduct regular stress tests against credit and other risks.
On Market View, the Drive Time team got down to the details with Benjamin Goh, Head of Research and Investor Education, SIAS.