SINGAPORE: Singapore shares opened on a steady note on Friday morning, mirroring the global trend despite the overnight upswing in international markets.
The Business Times reported that The Straits Times Index (STI) remained largely unchanged, dipping a mere 0.09 points to settle at 3,141.76 as of 9:01 am.
As trading commenced, 78 gainers edged out 57 losers in the broader market, with a turnover of 77.7 million securities valued at S$98.6 million.
Seatrium emerged as the frontrunner in terms of trading volume, holding firm at S$0.09 following a transaction of 22.7 million securities. Thai Beverage and Golden Agri-Resources also saw brisk trading activity.
Thai Beverage maintained its position at S$0.505 after trading 8.2 million securities, while Golden Agri-Resources saw a 1.9% increase, climbing from S$0.005 to S$0.27.
Banking stocks displayed a mixed performance in early trading. DBS observed a modest rise of 0.3% or S$0.09 to reach S$33.42, whereas OCBC experienced a slight dip of 0.1% or S$0.01, settling at S$12.97. UOB witnessed a 0.4% uptick, gaining S$0.12 to reach S$28.07.
Meanwhile, on Wall Street, stocks made gains on Thursday, with investors evaluating a crucial US inflation measure.
The Nasdaq Composite Index soared to a new high, with the Dow Jones Industrial Average inching up by 0.1% to 38,996.39 and the S&P 500 advancing by 0.5% to 5,096.27. The Nasdaq surged by 0.9% to 16,091.92, surpassing its 2021 peak.
In Europe, stocks also saw an upward trajectory on Thursday, buoyed by positive earnings reports and stable US inflation figures. Germany’s DAX index touched a record high following preliminary data indicating a slowdown in inflation.
The pan-European Stoxx 600 ended the session unchanged at 494.61. /TISG
Read also: Singapore shares on Thursday began on positive note, STI making slight 0.2% “leap”
Featured image by Depositphotos