Singapore shares opens on a positive note on Friday—STI increased by 0.2%

SINGAPORE: Singapore shares opened on a positive note on Friday despite a decline in global markets.

The Business Times reported that the Straits Times Index (STI) increased by 0.2%, gaining 6.45 points reaching 3,311.44 by 9:02 am.

In the broader market, gainers outnumbered losers, with 68 stocks rising and 41 falling. Overall, 36.6 million securities valued at S$41.5 million were traded during the early session.

Among the most active stocks by volume was Thai Beverage, trading steadily at S$0.495 with 6.5 million shares exchanged. Singtel also saw significant activity, with 2.1 million shares transacted, maintaining its price at S$2.43.

Lippo Malls Indonesia Retail Trust had two million units traded at an unchanged price of S$0.013.

Banking stocks experienced a positive morning. DBS Group Holdings rose by 0.3% or S$0.11, trading at S$35.66. United Overseas Bank (UOB) saw a slight increase of 0.1% or S$0.02, bringing its price to S$30.14. Oversea-Chinese Banking Corporation (OCBC) had a more notable rise of 0.7% or S$0.10, trading at S$14.40.

This positive start in Singapore contrasts with the performance of US indices the previous day.

After the Dow Jones Industrial Average surpassed the 40,000-point milestone for the first time, it ended Thursday slightly lower, down by 0.1% at 39,869.38. The broad-based S&P 500 also saw a minor decline of 0.2%, closing at 5,297.1. The tech-heavy Nasdaq Composite Index retreated by 0.3% to 16,698.32.

European markets also faced a setback, breaking a nine-day winning streak. The pan-European Stoxx 600 index fell by 0.2% to 523.62, impacted primarily by a profit miss from Siemens. This decline followed the index’s record high on Wednesday. /TISG

Read also: Singapore stocks open higher on Thursday following global market gains—STI climbed by 0.5%

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