SINGAPORE: Singapore stocks rose on Wednesday, June 19, following a robust performance in US markets, where Nvidia overtook Microsoft as the world’s most valuable company.
The Straits Times Index (STI) increased by 0.6%, adding 18.15 points to reach 3,319.93 by 9:01 am, as reported by The Business Times.
Market sentiment was positive, with 78 gainers outnumbering 33 losers after 36.3 million securities worth S$72.1 million were traded.
Hiap Seng was the most actively traded stock by volume, with about 6 million shares exchanged.
Hiap Seng’s price remained steady at S$0.005. Singtel also saw significant activity, with its shares increasing by 0.4% or S$0.01 to S$2.59. CapitaLand Ascendas REIT followed closely, rising 0.4% or S$0.01 to S$2.56.
Banking stocks opened higher, reflecting the overall market optimism.
United Overseas Bank (UOB) climbed 1.4% or S$0.44 to S$31.04. DBS Group Holdings saw a modest increase of 0.3% or S$0.10 to S$35.60, while Oversea-Chinese Banking Corporation (OCBC) gained 0.8% or S$0.11 to S$14.31.
Wall Street closed on a strong note on Tuesday. The S&P 500 set a new record, rising 0.3% to 5,487.03, as Nvidia emerged as the world’s most valuable company.
The Dow Jones Industrial Average climbed 0.2% to 38,834.86, while the Nasdaq Composite ended slightly higher, up less than 0.1% at 17,862.23.
European shares also ended higher on Tuesday, with the pan-European Stoxx 600 gaining nearly 0.7% or 3.52 points, closing at 515.01.
Utilities led the sectoral gains, rising by 1.5%, supported by easing concerns over French political instability and a shift in focus to economic data and central bank comments for insights on future monetary policy. /TISG
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