Singapore shares rose on Thursday—STI climbed 0.3%

SINGAPORE: Singapore shares rose on Thursday, Aug 15, following a positive performance in the US and European markets overnight.

The Straits Times Index (STI) climbed 0.3%, or 8.67 points, to 3,294.95 at 9:01 am, as reported by The Business Times.

In the broader market, 73 stocks advanced against 48 decliners, with 45.7 million securities worth S$66.1 million exchanged within the first hour of trading.

Genting Singapore was among the most actively traded stocks. Its shares rose by 1.8%, or S$0.015, to S$0.83, with 7.4 million shares traded. Seatrium also saw significant gains, climbing 2.1%, or S$0.03, to S$1.44, with 4.1 million shares traded.

Singtel shares also increased by 0.7%, or S$0.02, to S$2.93 on a volume of 1.5 million shares. On Thursday, the telecommunications giant reported a 42.9% jump in net profit for the first quarter, reaching S$690 million, up from S$483 million a year earlier.

Meanwhile, Singapore’s three major banks showed mixed results. DBS saw a slight dip, falling 0.4%, or S$0.15, to S$34.46. UOB rose by 0.2%, or S$0.07, to S$29.70, and OCBC gained 0.7%, or S$0.10, to S$14.05.

In the US, Wall Street stocks rose slightly on Wednesday as traders reacted to signs that consumer inflation is slowing down. This is a positive development for the Federal Reserve as it considers whether to lower interest rates. The Dow Jones Industrial Average went up by 0.6%, closing at 40,008.39. The S&P 500 also saw a rise of 0.4%, ending at 5,455.21. The Nasdaq also saw a slight increase, rising around  0.03%, reaching 17,192.6.

In Europe, the main stock index climbed on Wednesday, driven by gains in travel, leisure, and financial shares. The pan-European Stoxx 600 rose by 0.5%, closing at 504.1, with all major regional markets finishing in positive territory. /TISG

Read also: Singapore shares rose on Wednesday—STI increased by 0.7%

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