Singapore shares opened on a positive note on Monday—STI rose by 0.1%

SINGAPORE: Singapore shares opened on a positive note on Monday, Oct 28, following a weekend of mixed performances in overseas markets.

The Straits Times Index (STI) rose by 0.1%, gaining 2.85 points to reach 3,596.26 by 9:03 am, The Business Times reports.

In the broader market, there were 63 gainers compared to 55 losers after 48.2 million securities valued at S$52 million were traded.

Real estate and entertainment firm KOP Ltd led the trading volume. Its shares rose by 27%, or S$0.01, reaching S$0.047, with 5.6 million shares traded.

Meanwhile, CapAllianz, an investment holding company, recorded a 50% drop, falling to S$0.001. Another active stock, e-commerce firm Y Ventures, remained flat at S$0.009.

Most banking stocks also opened trading on a positive note. DBS slightly gained 0.03%, or S$0.01, to S$39.16. OCBC rose by 0.2%, or S$0.03, to S$15.35, while UOB remained steady at S$32.49.

Wall Street closed on Friday with mixed results, as investors kept an eye on the upcoming US presidential election and awaited major earnings reports from tech companies like Apple and Meta.

The Dow Jones Industrial Average slipped by 0.6% to 42,114.40, while the S&P 500 edged down less than 0.1%, closing at 5,808.12. On the other hand, the Nasdaq Composite Index saw a 0.6% increase, closing at 18,518.61.

European stocks ended the week on a quieter note, largely due to weaker-than-expected earnings from carmakers. The pan-European Stoxx 600 dipped less than 0.1% to 518.81. /TISG

Read also: Singapore stocks retreated on Friday morning—STI dropped 0.2%

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