Singapore stocks edged higher at the open on Thursday—STI rose 0.1%

SINGAPORE: Singapore stocks edged higher at the open on Thursday (Nov 21) following a mixed performance in global markets the night before.

The Straits Times Index (STI) rose 0.1%, or 4.61 points, to 3,748.25 by 9:04 am, according to The Business Times.

In the broader market, 73 losers outnumbered 51 gainers, after 54.6 million securities valued at S$63.9 million were traded.

Genting Singapore led the trading volume, increasing by 0.7%, or S$0.005, to S$0.78, with six million shares exchanged. Thai Beverage, another heavily traded stock, dropped 1.9%, or S$0.01, to S$0.51. Advanced Systems saw the steepest decline, falling 4.8%, or S$0.001, to S$0.02.

Singapore’s major banks also rose on Thursday’s open. DBS Bank rose 0.7%, or S$0.31, to S$42.52. UOB gained 0.2%, or S$0.08, to S$36.31, while OCBC edged up 0.1%, or S$0.01, to S$16.49.

In the United States, Wall Street closed mixed on Wednesday as investors awaited Nvidia’s third-quarter earnings. Despite beating expectations, the company’s stock dropped by 3% within 20 minutes of the report.

The Dow Jones Industrial Average rose 0.3% to close at 43,408.47. The Nasdaq Composite Index edged down 0.1% to 18,966.14, while the S&P 500 remained flat at 5,917.11.

In Europe, the main stock index ended flat on Wednesday after volatile movements, as investors stayed cautious amid ongoing geopolitical tensions from the Russia-Ukraine conflict.

The pan-European Stoxx 600 held steady at 500.49 points, marking its fourth consecutive decline and the longest losing streak in over two months. /TISG

Read also: Singapore stocks rose as trading began on Wednesday—STI gained 0.2%

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