Singapore stocks rose on Tuesday—STI climbed 0.2%

SINGAPORE: Singapore stocks rose on Tuesday, Sept 24, following gains in global markets overnight.

The Straits Times Index (STI) climbed 0.2%, or 6.26 points, reaching 3,644.8 by 9:01 am, The Business Times reports. In the broader market, 74 stocks gained while 35 fell after 46.5 million securities valued at S$35.8 million were traded.

Mermaid Maritime, a subsea and offshore drilling services company, led the trading volume. Its shares increased by 1.3%, or S$0.002, to S$0.16 after 9.1 million shares were exchanged.

Thai Beverage remained unchanged at S$0.525, while Mapletree Logistics Trust saw a 0.7% rise, or S$0.01, to S$1.44.

Banking stocks also showed gains. DBS increased by 0.2%, or S$0.07, to S$39.53. OCBC climbed 0.1%, up S$0.02, to S$15.66. UOB rose by 0.3%, or S$0.09, to S$33.34.

Wall Street hit new record highs on Monday, continuing its upward momentum as investors anticipated further central bank easing.

The Dow Jones Industrial Average gained 0.2% to close at 42,124.65, and the S&P 500 rose 0.3% to a record 5,718.57. The Nasdaq Composite also edged up 0.1%, closing at 17,974.27.

European stocks also closed higher on Monday as weaker-than-expected business activity raised hopes for more monetary policy easing from the European Central Bank this year. The Stoxx 600 index rose 0.4% to 516.32. /TISG

Read also: Singapore stocks started the week higher on Monday—STI edged up by 0.1%

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