STI up 0.4% — Singapore shares rise at Tuesday’s open

SINGAPORE: Singapore shares rise at Tuesday’s open following the positive trend in global equities overnight. The Straits Times Index (STI) saw a gain of 0.4% or 10.98 points, reaching 3,151.29 as of 9:01 am, The Business Times reports.

The broader market showcased a healthy performance, with gainers outnumbering losers at 72 to 39. A total of 79.8 million securities, amounting to S$53.8 million, changed hands during the session.

Leading the pack in terms of volume, Seatrium witnessed a 1.9% dip, falling to S$0.106 after a substantial 47.4 million securities were transacted. Meanwhile, mm2 Asia experienced brisk trading, albeit with a 4.6% drop, landing at S$0.021.

Banking stocks contributed to the positive sentiment in early morning trade. DBS gained 0.4%, increasing by S$0.11 to reach S$32. UOB showed a 0.5% rise, with an uptick of S$0.13 at S$28.44, while OCBC also joined the upward trend, growing by 0.5% or S$0.06 to reach S$12.94.

The buoyancy in the Singapore market mirrored the upbeat mood on Wall Street, where both the Dow and S&P 500 set fresh records on Monday.

The Dow Jones Industrial Average marked a 0.6% increase, closing at 38,333.45 – its third consecutive all-time high.

Simultaneously, the S&P 500 reclaimed record territory with a 0.8% gain, reaching 4,927.93. The tech-heavy Nasdaq Composite index saw a robust climb of 1.1%, closing at 15,628.04. /TISG

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