SINGAPORE: Singapore stocks rose on Monday as they mirrored the gains in both US and European markets.
The Business Times reports that at 9:01 am on Monday morning, the Straits Times Index (STI) climbed 0.2%, gaining 6.61 points to 3,230.62.
Early trading saw more winners than losers, with gainers outnumbering losers 76 to 39. 73.2 million securities, valued at S$41.8 million, changed hands across the broader market.
Seatrium stood as the most actively traded counter by volume, witnessing a rise of 1.3% or S$0.001 to S$0.08, with 33.4 million securities transacted.
Other notable counters included Oceanus, which maintained stability at S$0.008 after 5.5 million shares were traded, and Zixin, which experienced a decrease of 4.6% or S$0.001 to S$0.021 after 2.8 million securities were exchanged.
Early trade in the banking sector showed a mixed picture. DBS declined by 0.2% to S$35.95, while OCBC rose by 0.5% to S$13.56. UOB advanced by 0.4% to reach S$29.44.
Wall Street closed at record highs on Thursday, buoyed by expectations of interest rate cuts by the Federal Reserve. The Dow Jones Industrial Average increased by 0.1% to 39,807.37, while the S&P 500 saw a marginal increase of 0.1% to 5,254.35.
However, the Nasdaq Composite Index experienced a slight decline of 0.1% to 16,379.46.
Similarly, European stocks followed suit, with the Stoxx 600 closing 0.2% higher at 512.67. /TISG
Read also: Singapore shares inch up on Thursday—STI up by 0.03%
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