SINGAPORE: Singapore stocks fell as trading began on Friday (Feb 14) morning, even as new data from the Ministry of Trade and Industry (MTI) showed that the economy grew by 4.4% in 2024. The ministry also announced that non-oil domestic exports (NODX) rose 0.2% for the year, helped by stronger shipments of electronic products.
The Straits Times Index (STI) dropped 0.2% or 8.82 points to 3,873.76 at 9:01 am, as reported by The Business Times.
In the broader market, 70 stocks rose while 41 fell, with 90.8 million securities valued at S$73.2 million traded.
Mapletree Logistics Trust led in trading volume, gaining 0.8% or S$0.01 to S$1.23, with 4.3 million units exchanged. Genting Singapore also rose 0.7% or S$0.005 to S$0.76. Meanwhile, Seatrium dropped 0.4% or S$0.01 to S$2.54.
Local banking stocks were mixed at Friday’s open. DBS slipped 0.3% or S$0.12 to S$44.94, OCBC gained 0.1% to S$17.37, while UOB edged up 0.1% or S$0.05 to S$37.70.
In the US, Wall Street stocks closed higher on Thursday after US President Donald Trump delayed new tariffs. The Dow Jones Industrial Average rose 0.8% to 44,711.43. The S&P 500 gained 1% to 6,115.07, while the Nasdaq Composite advanced 1.5% to 19,945.64.
European stocks also rose after a strong earnings report from German industrial firm Siemens and signs that the Russia-Ukraine war could end. The pan-European Stoxx 600 Index rose 1.1% to 553.75. /TISG
Read also: Singapore stocks dipped as trading began on Thursday—STI edged down 0.1%
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