Singapore shares post first weekly gain in five weeks

IT WAS a strong finish to the week for the local equity market as risk-on sentiment returned to the region. Investors were buoyed by hopes that the US could delay its plan to hit Mexico with tariffs, as well as dovish central banks pulling the trigger on rate cuts.

IG market strategist Pan Jingyi said: "It was a risk-on day with temporary relief with regard to trade tensions. This saw technology and consumer cyclical sectors leading the charge for markets, which should not come as a surprise."

The Straits Times Index (STI) closed at 3,166.29, up 20.11 points or 0.6 per cent on Friday. The benchmark index advanced 48.53 points or 1.6 per cent from last Friday's close of 3,117.76, the first weekly gain in five wee…