
SIAS
2022-01-23 12:14:25
Banks help keep the STI afloat as Wall St tumbled
UOB took over from DBS as main bank play
The STI added 13 points or 0.4% at 3,294.86 despite sliding Wall St
SPACS Vertex Tech and Pegasus Asia debuted on Thurs and Fri respectively
SGX RegCo issued trading warning on Metech
Wall St fell every day of the week as bond yields spiked up on rising rate expectations
Fed funds futures pricing in 5.6% chance of a 25-basis points rate hike at this week’s FOMC
Nasdaq is now 14% below its Nov all-time high
UOB took over from DBS as main bank play
Earlier in the month it was gains in DBS that contributed the most towards the Straits Times Index’s upward push. Last week as DBS’s momentum stalled, UOB and OCBC took over, their gains helping the index add 13 points or 0.4% at 3,294.86 – a rise that came despite surging US bond yields that cau