Singapore stocks rise as trading begins in the new year—STI gains 0.2%

SINGAPORE: Singapore stocks rose as trading began on Thursday (Jan 2) after the New Year’s Day holiday. The Straits Times Index (STI) gained 0.2% or 5.73 points to 3,793.33 at 9:01 am, The Business Times reported.

In the broader market, 63 stocks gained while 40 declined, with 56.6 million securities valued at S$32.8 million traded.

Hiap Seng Industries led in trading volume, with 10.5 million shares traded. Its share price remained unchanged at S$0.007. Thai Beverage climbed 0.9% or S$0.005 to S$0.55, while Yoma Strategic advanced 4.1% or S$0.003, bringing its price to S$0.076.

Local banks were mixed at the open. DBS gained 0.1% or S$0.06 to S$43.78. UOB edged up 0.1% or S$0.03 to S$36.36, while OCBC dropped 0.2% or S$0.04 to S$16.65.

On Tuesday, US stock indices fell in a quiet session. The S&P 500 retreated 0.4% to 5,881.63, while the Nasdaq Composite Index dropped 0.9% to 19,310.79. The Dow Jones Industrial Average slipped 0.1% to finish at 42,544.22.

In Europe, stocks had their worst quarterly performance in over two years on Tuesday, as concerns over interest rates and US policies stalled a 2024 market rally. The pan-European Stoxx 600 edged up 0.1% to 507.62, but fell by around 3% for the quarter, its largest drop since July 2022. /TISG

Read also: Singapore stocks traded lower before the new year—STI fell 0.4%

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