Singapore shares saw gains on Wednesday—STI surged by 0.2%

SINGAPORE: Singapore shares saw gains on Wednesday morning, reflecting positive trends from global markets.

The Business Times reported that the Straits Times Index (STI) surged by 7.39 points or 0.2% to reach 3,180.94 at 9:01 am local time. The broader market saw 80 gainers outnumbering 23 losers, with a total turnover of S$57.1 million across 84.7 million securities.

Seatrium stood out as the most actively traded counter by volume, registering a 1.27% increase to S$0.08 after transacting 47.3 million securities.

Other notable performers included Singtel, which rose by 1.2% to S$2.53 following Singtel’s announcement to introduce GPU-as-a-Service with Nvidia’s GPUs in Singapore and Southeast Asia.

In addition, Thai Beverage traded flat at S$0.49, with 3.9 million shares changing hands.

Banking stocks displayed a mixed performance in early trading. DBS dipped by 0.2% to S$34.90, while OCBC climbed by 0.4% to S$13.42 and UOB saw a modest increase of 0.2% to S$29.05.

The positive momentum in Singapore’s market mirrored trends in global financial hubs. On Wall Street, stocks saw gains on Tuesday, with investors showing optimism ahead of the Federal Reserve’s interest rate decision scheduled for Wednesday.

The S&P 500 index rose by 0.6% to 5,178.51, while the Dow Jones Industrial Average gained 0.8% to 39,110.76. The Nasdaq Composite Index also climbed by 0.4% to 16,166.79.

European markets also experienced upward movement, buoyed by gains in the financial and energy sectors. Investors are eagerly awaiting interest rate decisions from central banks worldwide. The pan-European Stoxx 600 ended the day by 0.3% at 505.23. /TISG

Read also: Singapore shares saw only slight movement on Tuesday—STI slightly increased 0.01%

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