SINGAPORE: Singapore stocks rose as trading began on Wednesday, Nov 27, even as concerns over US president-elect Donald Trump’s tariff plans affecting major trading partners.
The Straits Times Index (STI) rose 0.3% or 10.73 points to 3,723.12 at 9:01 am, as reported by The Business Times.
In the broader market, 50 stocks advanced while 41 declined, with 17.1 million securities valued at S$51.8 million traded.
CapitaLand Investment led the trading volume. Its shares rose 0.4% or S$0.01 to S$2.73, with 2.2 million shares exchanged. Genting Singapore traded flat at S$0.77.
Singapore Post gained 0.9% or S$0.005 to S$0.56 after talks of potential plans to sell its Australian business.
Singapore’s three major banks opened strong as trading began. DBS rose 0.5% or S$0.20 to S$41.91. UOB gained 0.2% or S$0.06 to S$36.41. OCBC also rose 0.8% or S$0.13 to S$16.23.
Wall Street stocks hit new records on Tuesday despite Trump’s new tariff plans on Mexico, Canada, and China. The Dow Jones Industrial Average rose 0.3% to 44,860.31, marking its third consecutive record close.
The S&P 500 climbed 0.6% to a record 6,021.63, while the tech-heavy Nasdaq Composite Index also rose 0.6% to 19,175.58.
In Europe, shares moved in the opposite direction, led by automakers, as worries grew about a possible global trade war after Trump’s tariff threat against key US trading partners. The pan-European Stoxx 600 fell 0.6% to 505.9, breaking its three-day winning streak. /TISG
Read also: Singapore stocks declined on Tuesday’s open—STI dropped 0.3%
Featured image by Depositphotos
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