SINGAPORE: Singapore stocks opened higher on Friday (Oct 11) despite concerns over global market losses from the night before.
The Straits Times Index (STI) climbed 0.4%, or 14.69 points, to 3,599.98 by 9:02 am, as reported by The Business Times.
In the broader market, 79 gainers outnumbered 35 losers, with 46.6 million securities traded, valued at S$67.7 million.
Telecommunications giant Singtel led in trading volume, with its share price dropping 0.6%, or S$0.02, to S$3.14 after 5.6 million shares were exchanged. Green-energy company Green Build saw a sharp rise in its stock price, gaining 7.6%, or S$0.004, to S$0.057. Automotive dealer Trans-China Automotive (TC Auto) also saw gains, increasing 1.3%, or S$0.001, to S$0.078.
Singapore’s banking sector also saw early gains. DBS gained 0.4% or S$0.17 to S$38.91. UOB increased 0.4% or S$0.12 to S$32.04, while OCBC rose by 0.6% or S$0.09 to S$15.10.
Meanwhile, on Thursday, Wall Street stocks fell from their recent record levels, as mixed economic data raised uncertainty around upcoming US monetary policy decisions.
The Dow Jones Industrial Average slipped 0.1% to 42,454.12, pulling back from record highs. The S&P 500 dropped 0.2% to 5,780.05, while the Nasdaq Composite Index dipped 0.1% to 18,282.05.
In Europe, stocks also ended lower on Thursday, with defence and industrial sectors seeing the biggest losses. This decline followed a rise in US inflation data, as investors also awaited the release of France’s 2025 budget. The Stoxx 600 index dropped 0.2% to 519.11, with defence, industrial, and technology stocks all seeing losses of over 1%. /TISG
Read also: Singapore stocks rose on Thursday—STI gained 0.5%
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