Singapore stocks saw slight uptick on Monday—STI edged up by 0.1%

SINGAPORE: Singapore stocks saw a slight uptick on Monday morning despite the overall subdued performance of global markets.

The Business Times reports that, as of 9:01 a.m., the Straits Times Index (STI) edged up by 3.56 points or 0.1% to reach 3,180.07.

The broader market showed 79 advancers against 36 decliners, with 38 million securities worth S$47.3 million changing hands.

Seatrium was the most actively traded counter by volume, maintaining its position unchanged at S$0.077 after 12.6 million securities were exchanged.

Other actively traded stocks included Genting Singapore, up 0.5 per cent or S$0.005 at S$0.925, with 1.8 million shares changing hands, and King Wan, which traded flat at S$0.027, with 1.5 million securities exchanged.

Banking stocks showed mixed performance in early trading. DBS recorded a significant decline of 9.5% or S$3.47 to S$32.94, OCBC rose by 0.3% or S$0.04 to S$13.73, and UOB climbed 0.2% or S$0.07 to S$30.

On Wall Street, the Nasdaq and the S&P 500 concluded Friday’s trading session in negative territory, partly attributed by analysts to Netflix’s lower-than-expected financial earnings.

The tech-heavy Nasdaq Composite Index dropped by 2.1% to 15,282.01, while the broad-based S&P 500 declined by 0.9% to 4,967.23.

However, the Dow Jones Industrial Average experienced a modest increase, closing by 0.6% at 37,986.40, partly fueled by better-than-anticipated first-quarter financial results from payments company American Express.

In Europe, shares closed with little change on Friday, marking a third consecutive week of declines amid geopolitical tensions and investor concerns over delayed interest rate cuts. The pan-European Stoxx 600 slipped by 0.1%, closing at 499.29. /TISG

Read also: Singapore stocks rose on Friday—STI up by 0.2%

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