STI climbs 0.4% on the back of US rate-cut optimism

Gainers easily outpace losers 382 to 220 on broader market | Mapletree Logistics Trust is tops among STI Reits, up 4.8% | UOB and OCBC dip, but DBS rises to all-time high of $38.38

- Tay Peck Gek

Federal Reserve chairman Jerome Powell's testimony to the United States Congress fuelled a rally across Asia-Pacific bourses on July 11, lifting the Singapore bluechip barometer in the process.

Mr Powell told lawmakers that the central bank would not wait until inflation had hit the bank's 2 per cent target before lowering interest rates remarks that unleashed optimism among investors for rate cuts soon.