Singapore shares on an upward trend on Wednesday’s open—STI gained 0.2%

SINGAPORE: Singapore shares were on an upward trend on Wednesday’s open, Jan 15, as investors awaited key US inflation data. The Straits Times Index (STI) gained 0.2%, or 6.46 points, to 3,795.23 shortly after the market opened at 9:00 am, according to The Business Times.

In the broader market, 81 stocks advanced while 55 declined, with 68.3 million securities traded, valued at S$130.8 million.

Seatrium led in trading volume, climbing 1.8% or S$0.04 to S$2.22. Yangzijiang Shipbuilding dipped 0.7% or S$0.02 to S$3.05, after a sharp rise of about 4% the day before.

Meanwhile, on Wednesday, CapitaLand India Trust announced a long-term agreement with a global hyperscaler for one of its data centres under development to meet India’s growing demand. Its shares fell 0.9% to S$1.05 in early trading.

Local banks were mixed as trading began. DBS fell 0.5% or S$0.23 to S$43.67, UOB declined by the same percentage, losing S$0.20 to S$36.77, while OCBC gained 0.6% or S$0.10 to S$17.02.

US markets showed mixed results overnight as investors awaited key US inflation data on Wednesday, which will influence expectations for the US Federal Reserve’s interest rate decisions this year.

The S&P 500 slightly gained 0.1% to 5,842.91, the Dow Jones Industrial Average rose 0.5% to 42,518.28, while the Nasdaq Composite Index dropped 0.2% to 19,044.39.

In Europe, the pan-European Stoxx 600 index slipped 0.1%, closing at 508.28. /TISG

Read also: Singapore stocks traded lower on Tuesday’s open—STI slipped 0.1%

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