STI is flat on Tuesday morning as markets wait for key events on Wednesday, when US Federal Reserve Chairman Ben Bernanke is due to deliver his congressional testimony, following Singapore’s June external trade data.
While many analysts have already started saying that a reduction in monetary stimulus by the Fed is off the table, if Bernanke “continues with his theme from last week then the market expectations for a September taper will continue to reduce,” CMC Markets Singapore says in a note.
The STI is currently down 1.58 points at 3,235.24. Singapore Airlines (C6L.SG) is down 0.5% at $10.21 after reporting weaker operational statistics for June. Keppel Corp. (BN4.SG) is up 0.3% at $10.87 following an order win worth US$206 million ($260 million) from Mexico.
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