Singapore stocks rose on Tuesday—STI climbed 0.6%

SINGAPORE: Singapore stocks rose on Tuesday, Oct 15, following gains in overseas markets the night before.

The Straits Times Index (STI) climbed 0.6%, gaining 22.58 points to reach 3,618.49 by 9:01 am, as reported by The Business Times.

In the broader market, 73 gainers outpaced 29 losers after 22.3 million securities valued at S$43.6 million were exchanged.

Yanzijiang Shipbuilding led the trading volume. Its stock climbed 3.7%, or S$0.09, to S$2.52, with 4.9 million shares traded.

Other actively traded stocks included ESR-Logos Reit, which increased by 1.7%, or S$0.005, to S$0.295, with 3.2 million shares exchanged.

Offshore oil-and-gas contractor Dyna-Mac Holdings also saw a rise, with its stock up 1.5%, or S$0.01, to S$0.66.

Banking stocks also performed well in the morning trade. DBS gained 1%, or S$0.39, to S$39.52. OCBC climbed 0.5%, or S$0.08, to S$15.28, while UOB rose 1.3%, or S$0.41, to S$32.59.

On Wall Street, stocks closed higher as investors looked forward to a series of major corporate earnings reports.

The S&P 500 closed at a new record, gaining 0.8% to reach 5,859.85, while the Dow Jones Industrial Average rose 0.5% to finish at 43,065.22. Meanwhile, the tech-heavy Nasdaq Composite Index climbed 0.9% to 18,502.69.

In Europe, stocks closed on Monday at a two-week-high, driven by anticipation of upcoming corporate earnings and a policy decision from the European Central Bank later this week.

The pan-European Stoxx 600 index gained 0.5%, closing at 524.76, with tech, defence, and utilities stocks all rising by more than 1.2%. /TISG

Read also: Singapore stocks started on a positive note on Monday after economic growth data—STI rose 0.2%

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