Singapore SGX Centre

SINGAPORE: Singapore stocks rose on Tuesday, July 2, influenced by overnight gains in the US and European markets.

The Straits Times Index (STI) increased by 6.37 points or 0.2%, reaching 3,344.94 by 9:01 am, The Business Times reports.

In the broader market, 72 stocks rose, and 36 fell, with 44.1 million securities worth S$62 million traded.

Thai Beverage was the most actively traded stock, falling by S$0.005 or 1.1% to S$0.44, with 13.8 million shares exchanged.

In contrast, Yoma Strategic saw a rise of S$0.003 or 2.3% to S$0.136, while Genting Singapore increased by S$0.005 or 0.6% to S$0.85.

Local banks had mixed performances at the opening. United Overseas Bank (UOB) dropped by S$0.08 or 0.3% to S$31.22.

Conversely, DBS Bank increased by S$0.15 or 0.4% to S$36.27, and Oversea-Chinese Banking Corporation (OCBC) rose by S$0.01 or 0.1% to S$14.51.

Wall Street indices ended Monday on a positive note, ignoring a rise in US Treasury yields, which analysts linked to changing election expectations.

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The Nasdaq reached a new record, rising by 0.8% to 17,879.3, driven by tech stocks.

The Dow Jones Industrial Average went up by 0.1% to 39,169.52, while the broad-based S&P 500 climbed by 0.3% to 5,475.09.

In Europe, stocks closed higher on Monday, led by French shares after the far-right National Rally party made significant gains in the first round of parliamentary elections.

This helped the Stoxx 600 index end a four-session losing streak, closing 0.3% higher at 513.04. /TISG

Read also: Singapore shares edge lower on Monday—STI down by 0.1%

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