SINGAPORE: Singapore stocks traded higher on Tuesday, Jan 28, with the Straits Times Index (STI) gaining 0.8% or 31.05 points to 3,827.76 at 9:01 am, as reported by The Business Times.
In the broader market, 67 stocks gained while 30 declined, with 30.8 million securities valued at S$85.7 million traded.
Singtel led in trading volume, rising 0.9% or S$0.03 to S$3.23, with 2.9 million shares traded. CapitaLand Ascendas Reit advanced 2% or S$0.05 to reach S$2.61, while CapitaLand Integrated Commercial Trust gained 1.6% or S$0.03 to S$1.96.
Local banks also performed well at the open. DBS rose 0.6%, adding S$0.28 to S$43.88. UOB gained 0.9% or S$0.33 to S$37.35. OCBC shares climbed 1.2% or S$0.21 to S$17.30.
On Monday, Wall Street saw mixed results, with the S&P 500 and Nasdaq falling sharply. Artificial Intelligence (AI) chipmakers like Nvidia faced sell-offs as the growing popularity of a low-cost Chinese AI model, DeepSeek, raised concerns about the future of leading US AI firms.
The Dow Jones Industrial Average rose 0.7% or 289.33 points to 44,713.58. However, the S&P 500 dropped 1.5% or 88.96 points to 6,012.28, while the Nasdaq Composite Index retreated 3.1% or 612.47 points to 19,341.83.
In Europe, shares also slipped due to concerns over AI investments and tech sector valuations. The pan-European Stoxx 600 inched down 0.1% earlier in the session and ended at 529.69 points. /TISG
Read also: Singapore stocks traded lower on Monday’s open—STI dropped 0.3%
Featured image by Depositphotos (for illustration purposes only)