Singapore shares rose on Wednesday—STI increased by 0.4%

SINGAPORE: Singapore shares rose on Wednesday’s open, Sept 11, tracking overnight gains from Wall Street.

The Straits Times Index (STI) increased by 0.4%, adding 12.37 points to reach 3,525.04 by 9:01 am, according to The Business Times. In the broader market, 65 stocks gained, and 40 declined after 24 million securities valued at S$62 million were traded.

Wee Hur Holdings, a Mainboard-listed property developer, led trading volume. Its shares surged 9.1%, rising by S$0.025 to hit S$0.30, with 3.5 million shares traded.

Singtel remained unchanged at S$3.24, while CapitaLand Integrated Commercial Trust rose by 0.5%, adding S$0.01 to reach S$2.12.

The banking sector saw a mixed performance in early trading. OCBC dipped slightly, losing 0.1% or S$0.01 to S$15.14. UOB rose by 0.3% to S$32.07, while DBS saw a 0.7% increase, up S$0.25 to trade at S$37.43.

On Tuesday, Wall Street mostly saw gains in stocks as investors awaited key US inflation data, which is expected to shape expectations for future interest rate movements by the Federal Reserve.

Meanwhile, anticipation is building for a political debate between Vice-President Kamala Harris and former president Donald Trump.

The tech-heavy Nasdaq Composite Index climbed 0.8% to 17,025.88. The S&P 500 also increased 0.5%, closing at 5,495.52. However, the Dow Jones Industrial Average fell slightly, dipping 0.2% to 40,736.96.

In Europe, markets were less positive as investors awaited Wednesday’s US inflation report and the European Central Bank’s expected interest rate decision later in the week. The pan-European Stoxx 600 index declined by 0.5% to close at 507.95. /TISG

Read also: Singapore stocks rose on Tuesday’s open—STI increased by 0.5%

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