STI closes 1.5% higher at 2,802.51

SINGAPORE (May 27): Singapore stocks closed higher on Friday, as market expectations factor in the possibility of a rate hike in the US, perhaps as early as next month.

Higher rates in the US would signal higher interest rates in Singapore and signal greater strength in the US economy.

Federal Reserve Bank of St. Louis President James Bullard said in Singapore on Thursday he sees more factors in favour of a gradual pace of US interest-rate increases, though he is keeping an open mind going into the next meeting of the Federal Reserve's rate setting committee in June.

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