Singapore stocks edge higher on Thursday—STI rose by 0.5%

SINGAPORE: Singapore stocks edge higher on Thursday morning, July 4, continuing an upward momentum following strong performances in global markets overnight.

The Straits Times Index (STI) had risen by 16.71 points, marking a 0.5% increase to reach 3,432.22 by 9:01 am, The Business Times reports.

The broader market reflected a positive sentiment, with gainers outnumbering losers 77 to 24 as 48.1 million securities valued at S$96.4 million were traded.

Thai Beverage led in trading volume, with 16.7 million shares traded, but its price held steady at S$0.435. Casino operator Genting Singapore saw a slight increase, gaining S$0.005 or 0.6% to reach S$0.855. In contrast, units of ESR-Logos Real Estate Investment Trust fell by S$0.01 or 3.6% to S$0.265.

The banking sector showed positive performance. UOB rose by S$0.11 or 0.3% to S$32.38, and OCBC increased by S$0.06 or 0.4% to S$15.04. DBS, one of Singapore’s largest banks, remained steady at S$37.96.

Wall Street stocks reached new highs on Wednesday, even with low trading volumes and mixed economic data during the holiday-shortened session. The S&P 500 increased 0.5% to close at 5,537.02. The Nasdaq Composite Index rose by 0.9%, reaching 18,188.3. However, the Dow Jones Industrial Average saw a minor decline of 0.1%, ending at 39,308.

European shares also closed higher on Wednesday, driven by investor anticipation of the upcoming French vote and national elections in the UK. The pan-European Stoxx 600 index climbed for the second time in seven sessions, closing up 0.7% at 514.67. /TISG

Read also: Singapore stocks showed strong performance on Wednesday—STI climbed 1%

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