Banks lead Singapore higher, Malaysia slips

SINGAPORE (NewsRise) – Shares in Singapore rose Wednesday, as heavyweight lenders tracked an advance in U.S. Treasury yields ahead of a near-certain Federal Reserve rate increase. Malaysia shares edged lower following losses on Wall Street.

Singapore’s FTSE Straits Times index advanced 0.5% to 3,145.29. DBS Group Holdings rose 1% to S$19.28, and United Overseas Bank added 0.7% to S$21.68 after U.S. 10-year bond yields climbed to over one-month highs Tuesday. Singapore’s 10-year bond yield rose four basis points to 2.37%.

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