Singapore shares climbed on Wednesday—STI gained 0.3%

SINGAPORE: Singapore shares climbed in Wednesday’s trading session despite global markets taking a hit overnight.

The Business Times reported that The Straits Times Index (STI) made a modest gain of 0.3% or 9.84 points, reaching 3,116.94 by 9:01 am.

In the broader market, gainers outnumbered losers with 73 to 49, witnessing a turnover of 53.4 million securities valued at S$51.8 million changing hands.

Seatrium stood as the most actively traded counter by volume, experiencing a surge of 3.37%. It climbed by 1.1% or S$0.001 to S$0.09 following the transaction of 17.8 million securities.

Among other briskly traded companies were Thai Beverage, which saw a rise of 1.01% amounting to 2% or S$0.01, reaching S$0.505. Similarly, mm2 Asia recorded a significant gain of 5%, equating to S$0.001, reaching S$0.021.

Banking stocks showed positive movement in the early hours of trading. DBS climbed 0.78%, increasing by 0.3% or S$0.11 to S$33.51.

OCBC experienced a slight uptick of 0.69%, rising by 0.2% or S$0.02 to S$13.02. UOB also witnessed a gain of 0.46%, with an increase of 0.2% or S$0.05, reaching S$28.20.

Meanwhile, on Wall Street, indices faced a downturn on Tuesday, predominantly led by losses in key tech stocks, with traders eagerly anticipating remarks from the central bank chair later in the week.

The Nasdaq Composite Index, known for its tech-heavy composition, observed a decline of 1.7% to 15,939.59. The Dow Jones Industrial Average slipped by 1% to 38,585.19, while the S&P 500, representing a broad spectrum of stocks, stumbled by 1%, reaching 5,078.65.

In Europe, the Stoxx 600 experienced a dip on Tuesday, primarily influenced by a weakening in mining shares. Investors remained attentive to this week’s economic data releases from the eurozone and the United States, along with a policy decision from the European Central Bank.

The pan-European Stoxx 600 index fell by 0.2% to 496.27, following a previous day where it hit an all-time high. /TISG

Read also: Singapore stocks kicked off on Tuesday—STI gained 0.2%

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