Singapore stocks rose on Tuesday amid easing Middle East tensions—STI surged by 1%

SINGAPORE: Singapore stocks rose on Tuesday, April 23, following the positive momentum from global markets amid easing tensions in the Middle East.

The Business Times reported that the Straits Times Index (STI) surged by 1% or 32.9 points, hitting 3,258.07 at 9:02 am.

The broader market revealed gainers outnumbering losers by a significant margin of 113 to 26. A total of 76.6 million securities worth S$103.2 million changed hands.

The most active counter by volume is Seatrium, holding its ground at S$0.083 with 25 million shares changing hands. Following closely behind was Thai Beverage, which traded flat at S$0.48 with 6.7 million shares transacted.

CapitaLand Integrated Commercial Trust also rose, marking a 1.1% or S$0.02 increase to hit S$1.89, with 3.9 million shares changing hands.

In the banking sector, stocks rose in the early morning trade. DBS rose by 1.2% or S$0.42 at S$34.49. UOB followed suit, marking a 0.7% increase or S$0.21 to reach S$30.66, while OCBC had a modest 0.8% rise, adding S$0.11 to hit S$13.94.

US indices painted a similar picture of positivity, closing Monday on a higher note. The Dow Jones Industrial Average notched up a 0.7% increase to 38,239.98.

The S&P 500 gained 0.9%, settling at 5,010.60, while the tech-centric Nasdaq Composite Index jumped by 1.1% to close at 15,451.31.

Meanwhile, Europe witnessed a similar trend as easing tensions in the Middle East propelled stocks higher. Investors also eagerly awaited earnings reports from European banks and US tech giants slated for later in the week.

The pan-European Stoxx 600 index rebounded, marking a 0.6% rise. /TISG

Read also: Singapore stocks saw slight uptick on Monday—STI edged up by 0.1%

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