0116 GMT - Singapore's $FTSE Singapore Straits Time Index(.STI.SG)$ rises 0.6% to 3160.26 after Fed Chair Powell signaled substantial further progress in the U.S. labor market would be needed before the central bank begins to taper monetary stimulus.
Gains on the STI are led by banks after Singapore's central bank said Wednesday it will lift dividend restrictions on local banks and finance companies.
$OCBC Bank(O39.SG)$ rises 1.3%, UOB adds 1.1% and $DBS(D05.SG)$ is up 0.6%. REITs are also higher, with $Mapletree Ind Tr(ME8U.SG)$ gaining 1.0% and $Keppel DC Reit(AJBU.SG)$ up 0.8%. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
July 28, 2021 21:16 ET (01:16 GMT)
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