SINGAPORE: Singapore shares rose on Thursday morning, forging ahead despite a mixed bag of results from the US and other regional markets.
The Business Times reports the Straits Times Index (STI) climbed 0.3% to reach 3,164.75 by 9:01 am.
In the broader market, the scales tipped in favour of gainers, with 63 stocks celebrating gains compared to 43 in the red. Trading activity was brisk, with 73.8 million securities worth S$64.3 million changing hands.
Seatrium hogged the limelight as the most actively traded counter by volume. The stock edged up by S$0.001 or 1.3% to S$0.078, with 37.7 million securities exchanged.
Joining the ranks of heavily traded stocks were Genting Singapore, holding steady at S$0.91 after trading four million shares, and The Place Holdings, making waves with a 40% surge to S$0.007 following the transaction of three million shares.
The banking sector showed early promise, with DBS adding S$0.12 or 0.3% to S$36.09, OCBC advancing by S$0.10 or 0.7% to S$13.67, and UOB inching up by S$0.14 or 0.5% to S$29.75.
Meanwhile, in Wall Street, the mood was less buoyant on Wednesday, with chip stocks bearing the brunt of the downturn. The Nasdaq Composite Index took a 1.2% dip to 15,683.37, while the S&P 500 slid by 0.6% to 5,022.21. The Dow Jones Industrial Average also saw a minor retreat of 0.1% to 37,753.31.
In Europe, however, there was a glimmer of positivity as shares eked out gains, buoyed by robust quarterly performances from consumer giants like Adidas and LVMH. The pan-European Stoxx 600 managed a modest 0.1% climb to close at 498.52. /TISG
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