Singapore stocks rose on Friday—STI nudged up by 0.2%

SINGAPORE: Singapore stocks rose on Friday, echoing the gains from the US market’s overnight performance.

The Business Times reports as of 9:01 am, the Straits Times Index (STI) nudged up by 7.64 points or 0.2% to hit 3,304.53. In the broader market, gainers outnumbered losers at 78 to 33, after a total of 29.5 million securities amounting to S$40.1 million changed hands.

Seatrium took the spotlight as the most traded counter by volume, witnessing a dip of 1.1% or S$0.001 to settle at S$0.094 after 7.2 million securities changed hands. Other notable movers included Koh Brothers Eco Engineering holding steady at S$0.023 with 2.2 million shares exchanged and Beng Kuang Marine making strides with a 4.4% rise to S$0.19 after 1.7 million securities were traded.

Banking stocks were a mixed bag in the early hours of trading. DBS had a 0.5% gain or S$0.16, closing in at S$35.71, despite facing a hiccup in its mobile banking services the day prior. OCBC experienced a slight dip of 0.3% or S$0.04 to land at S$14.30, while UOB nudged up 0.3% or S$0.08 to S$30.55.

In the United States, major equities were riding high on Thursday’s trading session, buoyed by optimistic earnings reports from tech giants.

The tech-heavy Nasdaq Composite Index surged by 1.5% to reach 15,840.96, while the broader S&P 500 followed suit, notching a 0.9% gain to close at 5,064.20. The Dow Jones Industrial Average tagged along, climbing 0.9% to hit 38,225.66.

Meanwhile, in Europe, the mood was more sombre on Thursday. Shares took a step back as investors mulled over earnings releases and the Federal Reserve’s decision to maintain interest rates at their current levels. The pan-European Stoxx 600 slipped by 0.2%, settling at 503.21 as the trading day drew to a close. /TISG

Read also: Singapore shares kicked off on Thursday—STI up by 0.5%

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