Singapore stocks rose on Thursday—STI gained 0.5%

SINGAPORE: Singapore stocks rose on Thursday, Oct 10, following gains in overseas markets.

The Straits Times Index (STI) gained 0.5%, adding 18.43 points to hit 3,614.09, by 9.03 am, as reported by The Business Times.

In the broader market, 94 stocks rose while 23 fell, after 61.6 million securities valued at S$80.5 million were traded.

Y Ventures, an e-commerce retailer and distributor, led the trading volume. Its shares climbed 20% or S$0.002  to S$0.012, after a total of 7.4 million shares were exchanged. Other actively traded stocks included Frasers Logistics & Commercial Trust, which dropped 0.9% or S$0.01 to S$1.14, and Marco Polo Marine, which edged up 1.8% or S$0.001 to S$0.057.

Bank stocks also performed well at the market’s open. DBS Bank rose 0.5% or S$0.20 to S$39 and OCBC also climbed 0.5% or S$0.07 to S$15.13. Meanwhile, UOB posted the biggest gain among the banks, rising 0.9% or S$0.29 to S$32.22.

​​​​Wall Street stocks closed higher on Wednesday, boosted by gains in technology shares. The Dow Jones Industrial Average rose 1% to 42,512, while the S&P 500 added 0.7% to close at 5,792.04. Both the Dow Jones Industrial Average and the S&P 500 hit fresh records on Wednesday. The tech-heavy Nasdaq Composite Index also advanced 0.6% to 18,291.62.

In Europe, stocks rebounded on Wednesday after earlier losses, as investors kept a close eye on potential interest rate cuts and a US inflation report expected later this week. The pan-European Stoxx 600 index rose 0.7% to 520.05. /TISG

Read also: Singapore stocks rose on Wednesday morning—STI increased by 0.8%

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