Singapore stocks rose on Tuesday—STI edged up by 0.2%

SINGAPORE: Singapore stocks rose on Tuesday’s open, Sept 3, despite a largely unchanged performance in European markets the previous day. The Straits Times Index (STI) edged up by 0.2%, gaining 5.76 points to reach 3,468.84 at 9:02 am, as reported by The Business Times.

In the broader market, 61 gainers outpaced 35 losers, with 32.7 million securities worth S$42.2 million traded.

Suntec Real Estate Investment Trust (REIT) was the most actively traded stock. Its shares saw a decline of 1.6%, or S$0.02, bringing its price to S$1.21, with 3.3 million units exchanged.

Genting Singapore also saw significant activity, with its share price rising 0.6%, or S$0.005, to S$0.825. On the other hand, CapitaLand Ascendas Reit experienced a 1% drop, with its price falling by S$0.03 to S$2.85.

Banking stocks also opened strong. DBS shares increased by 0.4%, or S$0.16, to reach S$36.96. OCBC’s shares rose by 0.2%, or S$0.03, reaching S$14.69, while UOB followed with a 0.4% gain, rising S$0.11 to hit S$31.69.

In Europe, the market closed with little movement on Monday as investors evaluated economic data for insights into the European Central Bank’s (ECB) next moves.

The pan-European Stoxx 600 index remained nearly unchanged at 524.94 points, close to last week’s record highs. US markets were closed on Monday in observance of the Labour Day holiday. /TISG

Read also: Singapore shares open higher on Monday—STI increased by 0.1%

Featured image by Depositphotos