Healthcare stocks rose 1% at midday Friday.
CSL (ASX:CSL) gained nearly 3% in recent trade.
On the flip side, the materials sector struggled, shedding 3%.
BHP Group (ASX:BHP) shares were down nearly 4% in recent trade after increasing the estimated investment for its Jansen stage two potash project to $6.9 billion from $4.9 billion following a cost and schedule review.
Singapore shares opened higher on Thursday after the U.S. Federal Reserve kept its benchmark rate steady in the range of 3.50%-3.75% at its latest policy meeting on Wednesday, under newly minted chairman Kevin Warsh. Developments on the U.S.-Iran agreement front also boosted investor optimism.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose 0.083%, or 4.34 points, to open at 5,180.8.U.S. President Donald Trump and Iranian President Masoud Pezeshkian signed the Iran document on Wednesday night, the White House told the BBC.Key aspects of the deal comprise Iran's commitment not to develop a nuclear weapon, the restoration of shipping via the Strait of Hormuz with no transit fees for at least 60 days, the removal of U.S. sanctions, and an end to hostilities, including in Lebanon.Iranian Parliament Speaker Mohammad Bagher Ghalibaf, however, said in an interview on state TV that the Strait of Hormuz will not return to its pre-war state. The country plans to begin charging fees on ships passing through the key waterway after 60 days, according to the BBC.
(Updates with index/price moves and macroeconomic news from the first paragraph.)US equity indexes declined while government bond yields jumped ahead of Wednesday's close after the Federal Reserve removed the so-called easing bias from its policy statement.The Nasdaq Composite fell 1.4% to 26,005.8, with the S&P 500 down 1.3% to 7,409.7 and the Dow Jones Industrial Average lower by 1% to 51,469.4.The Fed kept its benchmark interest rate unchanged in the 3.50% to 3.75% range in a unanimous decision announced on Wednesday. The latest policy statement excluded language that suggested a lingering bias toward rate cuts."Economic activity is expanding at a solid pace despite elevated uncertainty that owes, in part, to the conflict in the Middle East," the Fed statement said. "Job gains have kept pace with the workforce, and the unemployment rate has changed little."Most US Treasury yields jumped, with the 10-year up 6.9 basis points to 4.50% and the two-year higher by 17.1 basis points to 4.22%.In his closing remarks at the G7 summit in France, French President Emmanuel Macron said that it is vital that Iran, Hezbollah, and Israel do not resume fighting, while noting that Paris supports a preliminary US-Iran deal to end the war, according to CNN.Iran will be able to export oil as soon as its agreement with the US is signed on Friday, CNN reported, while noting it has seen a draft of the memorandum of understanding. The MoU states Iran will "never produce nuclear weapons" while allowing Tehran to potentially tap into a $300 billion development fund if it meets commitments related to its nuclear program in further talks, the news agency reported.Front-month global benchmark North Sea Brent shed 0.1% to $78.86 per barrel, and US West Texas Intermediate down 0.1% to $75.96 per barrel.
(Updates with index/price moves and political/macroeconomic news from the first paragraph.)US equity indexes were moderately higher ahead of the Federal Reserve's monetary policy announcement under newly minted Kevin Warsh, while Iran warned against Israel's continuing attacks on Lebanon.The Nasdaq Composite and the S&P 500 rose 0.1% to 26,416.4 and 7,520.2, respectively, in Wednesday's midday trading. The Dow Jones Industrial Average advanced 0.4% to 52,211.5.The Federal Open Market Committee is widely expected to maintain the range for its federal funds rate at 3.50% to 3.75% for the fourth straight meeting, implying the focus will be on the updated Summary of Economic Projections and Kevin Warsh's first press conference as Fed chair on Wednesday afternoon.Meanwhile, on the geopolitical front, Iran has accused Israel of violating the truce in Lebanon 84 times since it reached the interim agreement with the US and warns of a "harsh response" if attacks continue, Al Jazeera reported.Israel carried out a series of strikes in southern Lebanon on Wednesday, with Lebanese President Joseph Aoun saying that he was in favor of a ceasefire and welcomed "any state" to help in the effort toward a truce, CNN reported. The draft text of the US-Iran framework agreement, a copy of which CNN said it has seen, ends the war on all fronts, including Lebanon.In his closing remarks at the G7 summit in France, French President Emmanuel Macron said that it is vital that Iran, Hezbollah, and Israel do not resume fighting, while noting that Paris supports a preliminary US-Iran deal to end the war, according to CNN.Front-month global benchmark North Sea Brent rose 0.9% to $79.66 per barrel, and US West Texas Intermediate climbed 1% to $76.81 per barrel after midday.