Asian Market Update

Asian stocks broadly rose Wednesday after US Federal Reserve chief Janet Yellen damped speculation of a rate hike before summer, and as eurozone finance ministers backed Greek reforms critical to avoiding a disastrous default.

The regional uptrend tracked fresh record highs on Wall Street and in Europe as investors breathed a cautious sigh of relief over the Greek package, which gives Athens a lifeline to pay its bills - for now - and sidestep an almost certain exit from the eurozone.

SGX Singapore Opening Market Update

SINGAPORE shares opened higher on Wednesday after US Federal Reserve chair Janet Yellen signalled a hike in interest rates was unlikely before mid-year.

At 9.20am, the benchmark Straits Times Index was up 2.61 points at 3,440.22. About 148 million shares, valued at S$124 million, changed hands. There were 108 gainers to 71 losers.

The most active stock was Genting Singapore, down six cents to S$0.985 a share due to the lower revenue and earnings it reported on Tuesday.

Singapore Exchange was up six cents at S$8.28 a share, despite CEO Magnus Bocker's surprise announcement that he was leaving the company after his contract ends this June.

SGX Singapore Closing Market Update

SINGAPORE share prices closed higher on Tuesday with the STI up 16.31 points to 3,437.61.

Volume was 1.07 billion shares worth S$1.25 billion.

Gainers outnumbered losers 226 to 194.