Singapore shares kick off on Tuesday’s open; STI made 0.3% modest climb

SINGAPORE: Singapore shares kicked off on Tuesday, Feb 13, riding the wave of overnight gains across global markets. The Straits Times Index (STI) made a modest climb, gaining 0.3% or 7.78 points, settling at 3,146.08 by 9:01 am, The Business Times reports.

In the broader market scenario, gainers outnumbered losers with a ratio of 80 to 47, with a total turnover of 41.2 million securities valued at S$55.5 million changing hands.

Seatrium took the spotlight as the most heavily traded counter by volume, with 7.7 million securities changing hands, holding steady at S$0.087 per share.

Among other actively traded companies, Thai Beverage maintained its position at S$0.495, while Singtel experienced a slight dip of 0.9%, dropping S$0.02 to S$2.32.

The banking sector showed promising signs as local banks started the day on a positive trajectory. DBS edged up 0.3%, gaining S$0.09 to reach S$32.63. OCBC made a modest gain of 0.2% or S$0.02, closing at S$12.97, while UOB saw a more substantial increase of 0.8% or S$0.23, reaching S$28.37.

Meanwhile, over on Wall Street, market indices ended on a mixed note as investors kept a close eye on key inflation data, which could potentially influence the Federal Reserve’s next policy move.

The Dow Jones Industrial Average surged 0.3% to a new all-time record of 38,797.38. However, the S&P 500 experienced a slight setback, slipping 0.1% to 5,021.84, while the Nasdaq Composite Index declined by 0.3% to 15,942.55.

In Europe, shares saw an upward trend on Monday, mirroring the strong rally in the US market. Investors eagerly awaited the release of the US consumer price index report and eurozone economic data later in the week.

The pan-European Stoxx 600 index closed 0.5% higher at 487.46, inching closer to the two-year highs it had reached earlier in the month. /TISG

Read also: Singapore shares took a dip again at Friday’s market open: STI down 0.5%