Singapore shares rose on Thursday—STI gained 0.5%

SINGAPORE: Singapore shares rose on Thursday, April 4, following a mixed performance in US and European markets overnight.

The Business Times reports, as of 9:01 am, the Straits Times Index (STI) gained 15.47 points or 0.5%, reaching 3,238.13.

In the broader market, gainers surpassed losers, with 79 stocks rising against 32 falling. Trading activity saw 35.6 million securities valued at S$52.2 million changing hands.

The most active counter by volume was Seatrium, which saw an increase of S$0.001 or 1.2%, reaching S$0.086 after 8.9 million securities were traded.

Other actively traded stocks included Marco Polo Marine, which remained steady at S$0.066 with 3.2 million shares exchanged, and ComfortDelGro, which maintained its price at S$1.46 with 1.5 million securities traded.

Banking stocks saw gains in early trading. DBS climbed S$0.18 or 0.5% to S$36.27, OCBC advanced S$0.17 or 1.3% to S$13.77, and UOB rose S$0.01 or 0.03% to S$29.54.

On Wall Street, US stocks closed with mixed results after a turbulent session on Wednesday, driven by softer-than-expected economic data for the services sector. Federal Reserve chair Jerome Powell cautioned against hastily lowering interest rates, despite acknowledging the possibility of cuts later in the year.

The tech-heavy Nasdaq Composite Index edged up 0.2% to 16,277.46. The broad-based S&P 500 also gained 0.1% to 5,211.49. However, the Dow Jones Industrial Average dipped 0.1% to 39,127.14.

In Europe, shares rebounded on Wednesday from a two-week intraday low. The pan-European Stoxx 600 rose 0.3% to 510.02. /TISG

Read also: Singapore shares dip at Wednesday’s open—STI dropped by 0.7%

Featured image by Depositphotos