Singapore stocks open higher on Tuesday—STI gained 0.2%

SINGAPORE: Singapore stocks opened higher on Tuesday, July 30, with traders eagerly anticipating a key US Federal Reserve meeting.

The Straits Times Index (STI) gained 0.2%, or 5.3 points, reaching 3,449.48 by 9:01 am, as reported by The Business Times.

The broader market showed more losers than gainers, with 60 stocks down compared to 42 that rose, after 45.9 million securities worth S$33.6 million were traded.

One of the most actively traded stocks was Mapletree Logistics Trust, which saw its price drop by 0.8%, or S$0.01, to S$1.29, with three million shares traded. On the other hand, Genting Singapore climbed 0.6%, or S$0.005, to S$0.855. Seatrium also gained 0.6%, closing at S$1.63 with 2.4 million shares traded.

Banking stocks showed mixed results at the start of the trading day. DBS saw a rise of 0.7%, or S$0.25, to S$36.58. OCBC increased by 0.4%, or S$0.06, to S$14.83. However, UOB saw a decline of 0.5%, or S$0.15, to S$32.25.

In the United States, Wall Street ended Monday with little change after a day of choppy trading. Investors were cautious ahead of major tech earnings and the Federal Reserve’s decision. The Nasdaq Composite Index edged up 0.1% to 17,370.2. The Dow Jones Industrial Average dropped slightly by 0.1% to 40,539.93, while the S&P 500 gained 0.1% to close at 5,463.54.

In Europe, investors remained cautious at the start of an earnings-packed week. The upcoming Federal Reserve meeting also added to the market’s cautious tone. The pan-European Stoxx 600 index fell 0.2%, closing at 511.79. /TISG

Read also: Singapore stocks begin the week on a high note—STI increased by 0.7%

Featured image by Depositphotos