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Singapore Shares Open Higher as US, Iran Agree to Halt Attacks, Hold Talks in Doha

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Singapore shares opened marginally higher on Monday after the US and Iran agreed to halt strikes and meet in Doha on Tuesday to discuss the Strait of Hormuz and other key issues that may end the war.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, rose nearly 0.2%, or 9.61 points, to open at 5,201.340.

U.S. and Iranian officials will hold talks in Qatar after the meeting was moved from Switzerland due to increased tensions, with discussions focusing on the Strait of Hormuz.

A U.S. official told Reuters that the sides agreed to halt attacks, allow vessels to move "freely", and continue technical negotiations on all the key points of the memorandum of understanding.

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