Singapore stocks begin the week on a high note—STI increased by 0.7%

SINGAPORE: Singapore stocks began the week on a high note on Monday, July 29, following a positive trend in global equities.

The Straits Times Index (STI) opened at 3,449.73, marking a 0.7% increase, or 23.26 points higher, as of 9:01 am, as reported by The Business Times.

The broader market saw 102 gainers outpace 30 losers, with 68 million securities worth S$58.5 million traded.

Seatrium was one of the most actively traded stocks, gaining 6% or S$0.09 to S$1.59, with 11.7 million shares traded. Medi Lifestyle saw a significant jump, soaring 63.6% or S$0.007 to S$0.018. Yoma Strategic also saw positive movement, moving up 1.6% or S$0.002 to S$0.131.

The banking sector also experienced gains at the market’s opening. DBS increased 0.5% or S$0.17 to S$36.41, UOB advanced 0.8% or S$0.27 to S$32.47, and OCBC rose 0.6% or S$0.09 to S$14.86.

On Wall Street, stocks closed higher last Friday after improved US inflation figures. The Dow Jones Industrial Average advanced 1.6% to close at 40,589.34. The S&P 500 edged up 1.1% to 5,459.1, while the tech-heavy Nasdaq Composite rose 1% to 17,357.88.

European markets also saw gains, with several sectors, including luxury goods, reporting better earnings. The pan-European Stoxx 600 index ended up 0.8%, reaching 512.83. /TISG

Read also: Singapore shares fell on Friday—STI dropped by 0.1%

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