Higher For Longer Interest Rate Environment Bodes Well For Banks? (Money FM)

Singapore equities began trading in positive territory today, as global sentiment remained upbeat after data showed US consumer prices were unexpectedly unchanged in May.
The Straits Times Index (STI) opened 0.6 per cent higher at 3,326.33 points after 64 million securities changed hands in the broader market.
In terms of companies to watch, we have Mapletree Logistics Trust. The trust’s manager said it will divest its entire equity interest in its wholly foreign-owned enterprise, Mapletree Logistics Warehouse (Xian), for an estimated price of 70.5 million yuan (S$13.1 million).
Elsewhere from the US Fed Chair Jerome Powell’s explanation as to why officials are not ready to cut rates, to how Tesla shareholders voted yes to Elon Musk’s US$56 billion pay package – more international and corporate headlines remain in focus.