Singapore stocks experienced positive start on Tuesday following global market gains—STI rose by 0.2%

SINGAPORE: Singapore stocks experienced a positive start on Tuesday, June 18, following positive trends in global markets. The Business Times reported that the Straits Times Index (STI) rose by 0.2%, increasing 6.22 points to 3,303.77 by 9:02 am.

The broader market also reflected this optimism, with 96 gainers outpacing 56 losers. 41.8 million securities were traded, amounting to S$60 million.

Seatrium was the most actively traded stock by volume despite a drop of 3.6%, or S$0.06, to S$1.61, with 4.5 million shares changing hands.

Singtel, another heavily traded stock, gained 0.4%, or S$0.01, to S$2.56 with 2.1 million shares traded. Yangzijiang Shipbuilding, however, fell by 1.6%, or S$0.04, to S$2.41.

Banking stocks saw early gains. DBS increased by 0.3%, or S$0.11, to S$35.59. UOB rose by 0.1%, or S$0.04, to S$30.61, while OCBC was up by 0.6%, or S$0.08, to S$14.22.

On Monday, US investors remained optimistic about artificial intelligence in the US markets, which drove the tech-heavy Nasdaq Composite Index up by 1% to close at 17,857.02, a record high for the sixth consecutive day.

The Dow Jones Industrial Average also rose 0.5% to 38,778.10. The S&P 500 increased by 0.8% to 5,473.23, also reaching an all-time high.

In Europe, shares closed slightly higher, recovering from last week’s losses. The pan-European Stoxx 600 saw a small increase of 0.1%. This modest rise came after the index experienced its worst weekly percentage fall this year. /TISG

Read also: After a rising streak this week, Singapore shares slip on Friday’s open—STI dropped by 0.2%

Featured image by Depositphotos