SINGAPORE: Singapore shares opened on a positive note on Friday, Sept 13, following gains in global markets overnight.
The Straits Times Index (STI) rose 0.1%, or 2.11 points, bringing it to 3,558.64 by 9:01 am, as reported by The Business Times.
In the broader market, 73 stocks gained while 29 declined, after a total of 35.6 million securities, valued S$48.9 million were traded.
Enterprise technology firm Silverlake Axis was the most actively traded stock by volume, although it remained flat at S$0.375, with three million shares exchanged. Offshore oil-and-gas contractor Dyna-Mac saw a 1.6% rise, increasing by S$0.01 to S$0.63. Shipbuilder Yangzijiang Shipbuilding also performed well, gaining 2.4%, or S$0.06, to trade at S$2.54.
Banking stocks showed a mixed start. OCBC dropped slightly by 0.1%, or S$0.02, bringing its price to S$15.23. Meanwhile, DBS slightly rose 0.1%, or S$0.05, to S$37.85, and UOB increased by 0.1%, or S$0.03, reaching S$32.32.
On Wall Street, US stocks closed higher on Thursday, with investors anticipating interest rate cuts by the Federal Reserve in the coming week. The rise in stocks came after benign wholesale inflation data, steady jobless claims, and a recent interest rate cut by the European Central Bank.
The tech-heavy Nasdaq Composite Index rose by 1%, closing at 17,569.68. The S&P 500 increased 0.8%, finishing at 5,595.76, while the Dow Jones Industrial Average ended the session 0.6% higher at 41,096.77.
European shares surged after the European Central Bank lowered interest rates, with inflation remaining close to its 2% target and the region’s economy narrowly avoiding a recession. The pan-European Stoxx 600 index rose by 0.8% to 512.08 points, with regional stock exchanges closed with solid gains. /TISG
Read also: Singapore shares opened higher on Thursday—STI climbed 0.6%
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