Singapore stocks traded higher on Tuesday morning—STI gained 0.2%

SINGAPORE: Singapore stocks traded higher on Tuesday morning (Dec 24), following gains in global markets.

The Straits Times Index (STI) gained 0.2%, or 7.96 points, to 3,760.29 at 9:01 am, as reported by The Business Times. In the broader market, 57 stocks gained while 27 declined, with 49 million securities valued at S$22.3 million traded.

Geo Energy Resources, an Indonesian coal producer, led the trading volume. Its shares increased by 1.7%, or S$0.005, to S$0.295, with 1.9 million shares exchanged. Seatrium, a company in the offshore and marine sector, also saw strong trading, with its shares up by 1.6%, or S$0.03, to S$1.96.

This followed the company’s announcement that it had secured a contract for engineering, procurement, construction, and onshore commissioning work on a new deepwater production unit. Singtel also gained 0.7%, or S$0.02, to S$3.12.

Local banks showed mixed performance as trading began. DBS slipped by 0.02%, or S$0.01, to S$43.35. UOB fell by 0.1%, or S$0.04, to S$36.21, while OCBC gained 0.6%, or S$0.09, to S$16.58.

In the US, stocks closed higher on Monday, led by technology stocks. The Dow Jones Industrial Average climbed 0.2% to 42,906.95. The S&P 500 increased by 0.7%, reaching 5,974.07, while the Nasdaq Composite Index advanced 1% to 19,764.88.

European markets also saw gains, with Novo Nordisk’s strong performance lifting the healthcare sector and limiting losses on the main index. The pan-European Stoxx 600 index edged up 0.1% to 502.91 points. /TISG

Read also: Singapore stocks rose as trading began on Monday—STI gained 0.2%

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