Singapore stocks rose on Thursday as exports increased 2.7% YoY in Sept; STI gained 0.7%

SINGAPORE: Singapore stocks rose on Thursday morning (Oct 17) after it was announced that Singapore’s key exports increased by 2.7% year-on-year (YoY) in September, following the 10.7% rise in August. On a month-on-month (MoM) basis, non-oil domestic exports went up by 1.1% in September, bouncing back from August’s 4.7% drop.

The Straits Times Index (STI) gained 0.7%, or 25 points , reaching 3,615.62 by 9:02 am, as reported by The Business Times.

In the broader market, 87 stocks rose while 42 fell, after 39.7 million securities were traded, worth S$74.8 million.

Singtel led the trading volume, gaining 0.3%, or S$0.01, to S$3.18, with 3.4 million shares exchanged. Other active counters included CapitaLand Integrated Commercial Trust, which went up by 0.5%, or S$0.01, to S$2.10. Thai Beverage shares also rose 1.9%, or S$0.01, to S$0.54.

Banking stocks also made gains. DBS climbed 0.9%, or S$0.33, to S$39.33. OCBC gained 0.6%, or S$0.09, to S$15.19, while UOB increased 0.2%, or S$0.07, reaching S$32.41.

On Wall Street, markets ended higher on Wednesday, boosted by a promising start to the earnings season. The Dow Jones Industrial Average rose 0.8%, closing at 43,077.7, while the S&P 500 gained 0.5% to end at 5,842.47. The Nasdaq Composite Index also gained 0.3%, to 18,367.08.

However, European markets faced a different scenario. In Europe, stocks declined due to disappointing earnings from tech giant ASML and luxury group LVMH. The Stoxx 600 index slipped 0.2%, closing at 519.6 points. /TISG

Read also: Singapore stocks rose on Wednesday’s open—STI gained 0.2%

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