Singapore stocks rose at Wednesday’s open—STI increased by 0.2%

SINGAPORE: Singapore stocks rose at Wednesday’s open, Oct 23, following overnight mixed performances in global markets.

The Straits Times Index (STI) increased by 0.2% or 5.71 points to 3,593.12 at 9:01 am, as reported by The Business Times.

The broader market saw 67 gainers compared to 41 losers, with 22.2 million securities valued at S$33.8 million traded.

Wee Hur, a property developer and builder, led the trading volume. Its shares jumped 7.4% or S$0.035 to S$0.51, with three million securities exchanged.

Other heavily traded stocks included SingPost, which rose 0.9% or S$0.005 to S$0.545, and Prospera Global, which rose by 3.9% or S$0.001 to S$0.027.

Banking stocks had a mixed start. DBS dipped 0.1% or S$0.03 to S$38.95, while OCBC climbed 0.6% or S$0.09 to S$15.27. UOB also edged up slightly, adding 0.03% or S$0.01 to S$32.10.

In the United States, Wall Street closed flat as rising Treasury yields impacted investor confidence. Major indices started the session lower, recovered in the afternoon, but eventually lost momentum.

The Dow Jones Industrial Average ended unchanged at 42,924.89. The S&P 500 fell 0.1% to 5,851.2, while the Nasdaq Composite Index gained 0.2% to 18,573.13.

European stocks ended lower as investors faced uncertainty over geopolitical issues and possible interest rate cuts. The pan-European Stoxx 600 index dropped 0.2% to 520.4. The pan-European Stoxx 600 index fell by 0.2%, closing at 520.4. /TISG

Read also: Singapore stocks dropped at the start of trading on Tuesday—STI fell 0.5%

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