SINGAPORE: Singapore shares traded higher on Wednesday (Jan 22) morning, following gains in global markets overnight. The Straits Times Index (STI) rose 0.2%, or 8.82 points to 3,804.19 at 9:01 am, The Business Times reported.
In the broader market, 75 stocks advanced while 34 declined, with 36.7 million securities valued at S$67.5 million traded.
CapitaLand Integrated Commercial Trust led in trading volume, gaining 1% or S$0.02 to S$1.98, with 2.1 million units traded. Mapletree Logistics Trust rose 1.6% or S$0.02 to S$1.29. Yangzijiang Shipbuilding also saw a modest increase of 0.4% or S$0.01 to S$2.90.
Banking stocks had a mixed start. The Development Bank of Singapore (DBS) fell 0.5% or S$0.23 to S$43.30. United Overseas Bank (UOB) climbed 0.7% or S$0.27 to S$37.09. Oversea-Chinese Banking Corporation (OCBC) rose 0.5%, or S$0.08, to S$17.13.
Wall Street closed higher on Tuesday, with the S&P 500 and Dow reaching their highest levels in over a month. Investors were relieved as US President Trump did not begin his return to office with broad tariff hikes, though he hinted at possible duties on Canadian and Mexican goods from Feb 1.
The S&P 500 climbed 0.9% or 52.58 points to 6,049.24. The Nasdaq Composite Index rose 0.6% or 126.58 points to 19,756.78. The Dow Jones Industrial Average advanced 1.2% or 537.98 points to 44,025.81.
European markets also closed higher, boosted by healthcare and luxury stocks. The pan-European Stoxx 600 index rose 0.4% to 525.98 points, its highest in three months. /TISG
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