Singapore’s benchmark Straits Times Index (STI) rose 27 points, or 0.5%, to 5,738 in Monday morning trading, extending its previous-session gains and reaching its highest level since September 8. Financial stocks led the advance, with the sector gaining 0.9% despite concerns about rising global bond yields. All three local banks moved higher: UOB rose 1.6%, OCBC Bank gained 0.6% and DBS climbed 0.5%. Gains were limited by higher oil prices after US President Trump rejected Iran’s proposal to reopen the Strait of Hormuz. Investors also remained cautious ahead of Singapore’s August industrial output data, China’s PMI (manufacturing activity survey), US jobs data and the PCE Index (Federal Reserve inflation gauge), all due later in the week and potentially relevant to the Federal Reserve’s interest-rate decision at its upcoming meeting.