Market View: Gains in global equities after tepid US data raises Fed rate cut hopes; Talks on Fed Chair Jerome Powell’s successor; Singapore’s factory output jumps 29.1% in October, boosted by pharma surge; Apple set to become top phone maker in the world; Seatrium, NIO to watch

Singapore shares rose today, tracking gains seen in broader Asian markets. The Straits Times Index was up 0.64% at 4,514.15 points at 2.21pm Singapore time, with a value turnover of S$770.33M seen in the broader market. In terms of counters to watch, we have Seatrium, after the marine engineering company today announced that it has been awarded a contract from BP Exploration and Production for the engineering, procurement, construction and onshore commissioning of the Tiber floating production unit in the Gulf of Mexico, renamed the Gulf of America by US President Donald Trump. Elsewhere, from how a round of tepid US data reinforced expectations of a Federal Reserve rate cut in December, to how Singapore’s factory output jumped 29.1 per cent year on year in October on the back of a surge in pharmaceutical manufacturing, more economic headlines remained in focus. On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Too Jun Cheong, Dealing Manager from Moomoo Singapore.See omnystudio.com/listener for privacy information.