Singapore stocks open higher on Tuesday—STI gained 0.5%

SINGAPORE: Singapore stocks open higher on Tuesday, July 9, reflecting gains from Wall Street overnight. The Straits Times Index (STI) gained 18.14 points, or 0.5%, to reach 3,422.61 as of 9:01 am, The Business Times reports.

In the broader market, there were more gainers than losers, with 67 stocks rising and 34 falling after 45.5 million securities valued at S$63.8 million were traded in the early session.

Thai Beverage was the most actively traded stock by volume. It increased by S$0.005, or 1.1%, to S$0.445, with 6.4 million securities changing hands. Singtel also increased by S$0.02, or 0.7%, to S$2.86.

Shares of Catalist-listed Tritech Group also saw significant activity. The stock increased by S$0.002, or 22.2%, to S$0.011.

Local banks performed well in early trading. DBS rose by S$0.20, or 0.5%, to S$37.38. UOB experienced a notable increase, rising by S$0.53, or 1.6%, to S$33.06. OCBC also gained, going up by S$0.08, or 0.5%, to S$15.13.

In Wall Street, two of three major indices closed at record highs on Monday as investors keenly awaited key inflation data to be released later this week.

The S&P 500 Index slightly rose by 0.1% to close at 5,572.85, while the tech-heavy Nasdaq Composite Index increased by 0.3% to finish at 18,403.74. However, the Dow Jones Industrial Average dipped slightly by 0.1%, ending at 39,344.79.

In Europe, trading was more subdued on Monday. Investors were considering the potential impact of a hung parliament in France following the unexpected advance of the left alliance in the election.

The pan-European Stoxx 600 index closed flat at 516.43. /TISG

Read also: Singapore shares open lower on Monday—STI fell by 0.2%

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