Singapore shares rose on Tuesday—STI increased by 0.3%

SINGAPORE: Singapore shares rose on Tuesday, April 9, buoyed by a mixed performance in global markets the previous night.

The Business Times reports that, as of 9:01 am, the Straits Times Index (STI) had increased by 0.3%, or 8.07 points, to 3,224.06.

Among the listed stocks, gainers outnumbered losers by a significant margin, with 76 gaining against 20 declining, as 34.7 million securities worth S$31.5 million changed hands.

Logistics service provider Chasen led the pack in terms of trading volume, showing an impressive 12.77% surge. The company’s shares rose by S$0.008 or 8.5% to S$0.102, with 8.8 million shares traded.

Meanwhile, index counters Genting Singapore and Singtel also saw brisk trading activity. Genting Singapore, an integrated resort operator, remained flat at S$0.91, with 4.2 million shares transacted.

On the other hand, telecommunications provider Singtel rose S$0.01 or 0.4%, reaching S$2.42, with four million shares changing hands.

Among the local banks, trading was mixed in the early hours. DBS experienced a slight decline of S$0.03 or 0.1%, bringing its price to S$35.52.

However, OCBC gained S$0.02 or 0.2%, reaching S$13.75, while UOB climbed S$0.06 or 0.2%, reaching S$29.43.

Across the Pacific, US stocks saw minimal movement on Monday, with a solar eclipse drawing some investor attention away from the market.

This distraction came ahead of crucial inflation data and the commencement of the first-quarter earnings season.

The S&P 500 saw a decrease of 0.04%, closing at 5,202.39, while the Dow Jones Index experienced a 0.03% drop, ending the day at 38,892.8. Conversely, the Nasdaq slightly increased by 0.03%, reaching 16,253.96.

In Europe, shares saw a positive trend on Monday, largely attributed to strong industrial production data from Germany, the region’s largest economy.

The Stoxx 600 index concluded the session with a 0.5% increase, reaching a closing value 508.93. /TISG

Read also: Singapore shares are relatively unchanged on Monday—STI ticked up by 0.03%