Singapore shares rise on Thursday—STI gained 0.1%

SINGAPORE: Singapore shares rise on Thursday, following the upward trend in global markets overnight.

The Business Times reported that The Straits Times Index (STI) opened with a modest gain of 0.1% or 3.03 points, reaching 3,139.17 by 9.01 am. Among the wider market, gainers outnumbered losers with 55 stocks advancing compared to 28 declining, with a total of 25.7 million securities valued at S$27.3 million changing hands.

Seatrium stole the show as the most actively traded stock by volume, marking a 1.1% increase or S$0.001 to reach S$0.092 after 9.2 million shares were traded.

Other notable movers included Yangzijiang Shipbuilding which climbed 1.1% or S$0.02 to hit S$1.80 with 2.3 million shares changing hands, and ESR-Logos Reit which remained steady at S$0.305 with 1.6 million shares traded.

Banking stocks displayed a mixed performance in early trading hours. DBS nudged up 0.1% or S$0.02 to S$33.61, while OCBC and UOB traded flat at S$13.19 and S$28.25 respectively.

Over in Wall Street, stocks rebounded on Wednesday as investors closely monitored the congressional testimony of Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average gained 0.2%, closing at 38,661.05, while the S&P 500 Index surged 0.5% to settle at 5,104.76. The Nasdaq Composite Index also posted a solid rise of 0.6% to end the day at 16,031.54.

In Europe, the pan-European Stoxx 600 notched a new record high on Wednesday, buoyed by gains in technology and financial sectors. Investors also took heed of the previous day’s congressional testimony ahead of the European Central Bank’s policy decision. The Stoxx 600 index advanced 0.4%, reaching 498.21. /TISG

Read also: Singapore shares climbed on Wednesday—STI gained 0.3%

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