Singapore shares surged on Monday—STI climbed 0.3%

SINGAPORE: Singapore shares surged on Monday, following a wave of global equity gains from the previous week.

The Business Times reported that The Straits Times Index (STI) climbed 9.63 points or 0.3% to hit 3,145.39 by 9:01 am. In the broader market, gainers outpaced losers 84 to 31, and approximately 34.8 million securities valued at S$58.3 million changed hands.

CapitaLand Integrated Commercial Trust stole the show as the most actively traded counter by volume, surging by S$0.04 or 2.1% to reach S$1.95 with 4.9 million units traded.

Additionally, Golden Agri-Resources and Geo Energy Resources shares witnessed brisk trading activities. While the oil palm company dipped by S$0.005 or 1.9% to S$0.265, the coal producer edged up by S$0.005 or 1.5% to S$0.345.

Local banking giants saw mixed fortunes at the Monday open. DBS shed S$0.06 or 0.2% to S$33.49, while UOB rose by S$0.13 or 0.5% to S$28.32. OCBC gained S$0.03 or 0.2% to hit S$13.02.

The momentum in Singapore mirrored a broader trend in global equities. Last Friday, Wall Street saw a surge in stock prices, especially in the technology sector, alongside declining Treasury yields.

The Dow Jones Industrial Average rose by 90.99 points or 0.2% to 39,087.38. The S&P 500 climbed by 40.81 points or 0.8% to peak at 5,137.08, while the Nasdaq Composite notched its second consecutive record close, gaining 183.02 points or 1.1% to hit 16,274.94.

The European shares also experienced an upward trajectory, buoyed by strong corporate earnings. The pan-European Stoxx 600 marked its sixth consecutive weekly gain, closing 0.6% higher at an all-time high of 497.58. /TISG

Read also: Singapore shares opened on Friday with steady note—STI remains unchanged

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