Singapore stocks traded higher at Thursday’s open—STI advanced 1.2%

SINGAPORE: Singapore stocks traded higher at the open on Thursday (Jan 16), tracking gains from global markets. The Straits Times Index (STI) advanced 1.2%, or 44.36 points to 3,816.94 at 9:01 am, as reported by The Business Times.

In the broader market, 104 stocks gained while 15 declined, with 41.7 million securities valued at S$72.6 million traded.

CapitaLand Integrated Commercial Trust led in trading volume, climbing 2.1% or S$0.04 to S$1.95 with 4.4 million units traded. Other heavily traded stocks included Suntec Reit, which remained flat at S$1.23, and Mapletree Logistics Trust, which gained 1.6% or S$0.02 to S$1.28.

Local banks also performed well at the open. DBS increased by 1.3%  or S$0.55 to S$44.05. OCBC also gained 1.3% or S$0.21 to S$17.08. UOB advanced 1.4% or S$0.52 at S$37.10

Wall Street stocks surged on Wednesday, bouncing back from a recent drop as traders reacted positively to strong bank earnings and signs of easing inflation. The Dow Jones Industrial Average rose 1.7% to 43,221.55. The S&P 500 gained 1.8% to 5,949.91, while the Nasdaq Composite Index jumped 2.5% to 19,511.23.

European shares also rose on Wednesday after US inflation data matched expectations, increasing the likelihood of a second Federal Reserve rate cut this year. The pan-European Stoxx 600 index advanced 1.3% to 515.02, marking its highest intraday percentage increase since September 2024. /TISG

Read also: Singapore shares on an upward trend on Wednesday’s open—STI gained 0.2%

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