Singapore shares began the week in positive territory, tracking strong performances in the US and Europe markets.

The Straits Times Index (STI) was up 0.7 per cent to 3,229.53 points in early trade after 48.8 million securities changed hands in the broader market. 

In terms of companies to watch for today, we have Stamford Land. That’s after the company’s net profit rose to S$184.5 million for its second half-year, significantly higher than the S$15.6 million in the year-ago period. 

Meanwhile, most Asian markets cheered a deal between US President Joe Biden and House Speaker Kevin McCarthy to lift the US debt ceiling and avoid a catastrophic default. 

On Market View, the Drive Time team unpacked these developments with David Kuo, Co-founder, The Smart Investor.