Singapore stocks rose on Thursday—STI gained 0.5%

SINGAPORE: Singapore stocks rose on Thursday, Sept 5, bucking the global trend where major indices mostly fell overnight.

The Straits Times Index (STI) gained 16.19 points, or 0.5%, reaching 3,457.57 as of 9:01 am, according to The Business Times.

In the broader market, 72 stocks gained compared to 20 that declined, with 46.7 million securities traded, totalling S$56.5 million in value.

China Kunda Technology led the day in terms of trading volume, with its stock price jumping by 75%, increasing by S$0.009 to S$0.021, with 7.7 million shares traded. CapitaLand Integrated Commercial Trust remained steady at S$2.06. Meanwhile, Mapletree Pan Asia Commercial Trust saw a modest rise, gaining 0.8%, or S$0.01, to S$1.35.

Banking stocks had a mixed opening. UOB slipped by 0.1%, or S$0.03, to S$31.60, while DBS climbed 0.4%, or S$0.13, to S$36.73. OCBC also performed well, with its stock increasing by 0.8%, or S$0.12 to S$14.66.

In the United States, Wall Street closed with mixed results as investors awaited key employment data. The Dow Jones Industrial Average edged up by 0.1%, ending the day at 40,974.97. However, the broad-based S&P 500 dropped by 0.2% to 5,520.07, and the tech-heavy Nasdaq Composite fell 0.3%, closing at 17,084.30.

European markets also struggled, with shares falling as technology stocks led the decline. Worries about a US slowdown and weakness in China added to the pressure on global markets. The pan-European Stoxx 600 index dropped by 1%, closing at 514.82. /TISG

Read also: Singapore stocks fell on Wednesday—STI dropped by 1.7%

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