SINGAPORE: Singapore stocks traded higher when the market opened on Monday (Feb 10), even as global markets ended lower last week due to trade war concerns. The Straits Times Index (STI) advanced 1.3% or 48.7 points to 3,910.12, at 9:02 am, The Business Times reported.
In the broader market, 69 stocks advanced while 53 declined, with 40.2 million securities valued at S$105.3 million traded.
Keppel Infrastructure Trust led in trading volume, retreating 1.1%, or S$0.005, to S$0.445, with 4.2 million shares traded. Other actively traded stocks were MarcoPolo Marine, which advanced 1.9%, or S$0.001, to S$0.054, and Rex International, which gained 1.2%, or S$0.002, to S$0.164.
Banking stocks saw substantial gains at the open. DBS surged 3.8% or S$1.70 to S$46.38 after reporting an 11% year-on-year (YoY) increase in net profit for the fourth quarter, reaching S$2.52 billion. The bank’s full-year earnings hit a record S$11.29 billion. OCBC also advanced 1.4% or S$0.24 to S$17.57, while UOB gained 1.2% or S$0.44 to S$37.82.
Wall Street ended lower on Friday as US Treasury yields rose following a mixed payroll report. All three major stock indices fell sharply amid a sell-off triggered by reports that US President Donald Trump plans to announce tariffs soon. The Dow Jones Industrial Average retreated 1% to 44,303.4, while the S&P 500 dropped 1% to 6,025.99. The Nasdaq Composite Index also declined 1.4% to 19,523.4.
European stocks also ended lower on Friday as trade war concerns affected investor sentiment. The pan-European Stoxx 600 Index fell 0.4% to 542.75 points, with automakers leading the declines. /TISG
Read also: Singapore stocks opened higher on Friday — STI rose 0.1%
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