Singapore shares on Thursday began on positive note, STI making slight 0.2% “leap”

SINGAPORE: Singapore shares on Thursday, Feb 29, began on a positive note, shrugging off global market jitters from overnight losses.

The Business Times reports that The Straits Times Index (STI) saw a modest rise of 0.2% or 6.36 points, reaching 3,145.29 at 9:01 am.

Amongst the broader market, gainers outnumbered losers, with 61 stocks in the green compared to 56 in the red, as 48.2 million securities worth S$40 million changed hands.

Seatrium took the lead as the most actively traded counter by volume, enjoying a 2.3% increase, equivalent to S$0.001, bringing its price to S$0.088 after 19.2 million securities were swapped.

Other notable movers included Yangzijiang Financial, climbing 1.5% or S$0.005 to S$0.34, while ESR-Logos Reit took a dip of 1.6% or S$0.005, landing at S$0.305.

Banking stocks showed a mixed trend in early trading hours. DBS marked a gain of 0.5% or S$0.17, reaching S$33.62, while OCBC experienced a 0.4% decline, down S$0.05 to S$12.96. UOB made a modest gain of 0.1% or S$0.03, reaching S$28.16.

Meanwhile, Wall Street faced a downtrend on Wednesday as investors awaited crucial inflation data that could impact future Federal Reserve decisions. The Dow Jones Industrial Average slipped 0.1% to 38,949.02. Similarly, the S&P 500 dropped 0.2% to 5,069.76, and the Nasdaq Composite Index declined by 0.6% to 15,947.74.

In Europe, the Stoxx 600 dipped on Wednesday following lacklustre corporate earnings and investor caution ahead of the key eurozone and US inflation data. The pan-European Stoxx 600 closed 0.4% lower at 494.59, marking a near one-week low.

/TISG

Read also: Singapore shares dip on Wednesday morning—STI fell by 0.3%

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