SINGAPORE: Singapore stocks started the week on a positive note on Monday, July 15, reflecting global trends from the previous week.
The Straits Times Index (STI) rose by 6.04 points or 0.2% to reach 3,503.82 by 9:01 am, as reported by The Business Times. Market activity showed 86 gainers compared to 48 losers after 58 million securities valued at S$55.7 million were traded.
Pacific Radiance, a shipbuilding and repair company, was the most actively traded stock in the morning session. Its shares surged by 6.5% or S$0.002 to S$0.033, with 3.6 million securities traded.
Similarly, HGH Holdings, a concrete manufacturing company, saw robust trading as its stock price climbed 14.3% or S$0.002 to S$0.016 early in the trading day.
Media entertainment company mm2 Asia also enjoyed a notable gain of 6.3% or S$0.001 to S$0.017 amid heavy trading volumes.
Singapore’s banking sector also showed positive momentum on Monday’s open. DBS Group Holdings rose by 0.3% or S$0.10 to S$38.03, while OCBC and UOB saw increases of 0.5% to S$15.36 and 0.2% to S$33.13, respectively.
Last Friday, Wall Street ended higher amid expectations that the US Federal Reserve may reduce interest rates in September.
The S&P 500, Nasdaq, and Dow Jones Industrial Average climbed by 0.6% on Friday, closing at 5,615.35, 18,398.44, and 40,000.9, respectively.
In Europe, stocks also advanced on Friday due to robust earnings reports and optimism among global investors regarding the potential rate cut by the Fed. The pan-European Stoxx 600 index closed nearly 0.9% higher at 524.08. /TISG
Read also: Singapore stocks open higher on Friday morning following latest GDP data—STI rose by 0.5%
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