Singapore stocks open higher again on Thursday—STI rose by 0.6%

SINGAPORE: Singapore stocks opened higher again on Thursday, June 13, following a strong global sentiment after US consumer prices remained steady in May.

The Straits Times Index (STI) rose by 0.6%, or 18.89 points, to reach 3,326.33 by 9:01 am, as reported by The Business Times.

The broader market saw 96 gainers compared to 22 losers, with 64 million securities worth S$102.3 million traded.

Thai Beverage was the most actively traded stock, with 15.7 million shares exchanged. Despite the high volume, the stock opened 3.1% lower, decreasing by S$0.015 to S$0.475. Golden Agri-Resources also saw significant trading activity, with its shares falling by 1.9%, or S$0.005, to S$0.265. In contrast, CapitaLand Integrated Commercial Trust’s units rose by 1.6%, or S$0.03, to S$1.96.

Banking stocks contributed to the positive sentiment at the market’s open. DBS Bank increased by 0.5%, or S$0.16, to S$35.81. OCBC climbed 1%, or S$0.14, to S$14.37, while UOB rose 0.7%, or S$0.20, to S$30.85.

The positive sentiment in Singapore mirrored mixed but generally positive performances on Wall Street, spurred by favourable inflation data. The Federal Reserve’s decision to keep interest rates steady boosted investor confidence.

The S&P 500 advanced 0.9% to 5,421.03, and the Nasdaq Composite Index surged 1.5% to 17,608.44, marking a third consecutive record close for both indices. Meanwhile, the Dow Jones Industrial Average saw a slight decline, edging down 0.1% to 38,712.21.

European shares also advanced, supported by the cool US inflation data that raised hopes for potential policy easing by the Federal Reserve. The pan-European Stoxx 600 index increased by 1.1% to 522.89, its largest single-day percentage gain since January, after three consecutive sessions of losses. /TISG

Read also: Singapore stocks started on a strong note on Wednesday—STI rose by 0.3%

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