Singapore stocks kick off on Wednesday—STI rose by 0.3%

SINGAPORE: Singapore stocks kicked off on Wednesday, July 31, following a mixed performance on Wall Street the night before. The Straits Times Index (STI) rose by 0.3% or 10.46 points, reaching 3,452.23 by 9:01 am, as reported by The Business Times.

In the broader market, 53 stocks were up while 37 were down, with 21.9 million securities valued at S$37.3 million traded.

Genting Singapore was among the most actively traded stocks by volume, remaining flat at S$0.85 with 1.9 million shares traded. Another heavily traded stock was Mapletree Logistics Trust, which saw a decline of 3.1% or S$0.04 to S$1.27, with 1.3 million units transacted.

Meanwhile, Second Chance Properties experienced a 3.4% increase, up S$0.01 to S$0.305, with 1.4 million shares exchanged.

Banking stocks were also off to a strong start. DBS Group Holdings saw a rise of 0.7% or S$0.24 to S$36.80. OCBC increased by 0.4% or S$0.06 to S$14.86. UOB also went up by 0.5% or S$0.16 to S$32.42.

Wall Street had a mixed day on Tuesday, with investors moving funds away from artificial intelligence (AI) stocks to other sectors. The tech-heavy Nasdaq Composite Index dropped 1.3% to 17,147.42.

The Dow Jones Industrial Average increased by 0.5% to 40,743.33, while the broad-based S&P 500 was down by 0.5% to 5,436.44.

In Europe, markets closed higher on Tuesday, driven by gains across various sectors. The pan-European Stoxx 600 index rose by 0.5%, closing at 514.08. /TISG

Read also: Singapore stocks open higher on Tuesday—STI gained 0.2%

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