Singapore shares started strong on Thursday—STI rose 0.3%

SINGAPORE: Singapore shares started strong on Thursday, June 6, reflecting positive global trends from the previous night.

The Business Times reported that the Straits Times Index (STI) rose 0.3%, adding 11.3 points to reach 3,341.31.

The broader market also saw more stocks rising than falling, with 73 gainers compared to 21 losers. A total of 45.8 million securities valued at S$74 million were traded.

Thai Beverage was the most traded stock by volume, which remained steady at S$0.51, with 6.3 million shares changing hands. Yangzijiang Shipbuilding saw a drop, down 0.4% or S$0.01 to S$2.32. In contrast, Singtel gained 0.4% or S$0.01, reaching S$2.53. Keppel Reit units also climbed by 0.6% or S$0.005, standing at S$0.865.

Banking stocks showed positive movements as well. DBS Group Holdings, one of Singapore’s major banks, saw its stock increase by 1% or S$0.36, reaching S$35.72. United Overseas Bank (UOB) edged up 0.1% or S$0.03 to S$30.72, and Oversea-Chinese Banking Corporation (OCBC) gained 0.1% or S$0.02, reaching S$14.30.

The positive start in Singapore was influenced by robust performances in major global markets. In the United States, Wall Street saw significant gains, particularly with chip designer Nvidia’s market value surpassing US$3 trillion (approx. S$4.04 trillion).

The S&P 500 index rose by 1.2% to 5,354.03. The tech-heavy Nasdaq Composite Index jumped 2% to 17,187.9. The Dow Jones Industrial Average also increased by 0.3%, reaching 38,807.33.

European markets also experienced gains, driven by a rise in technology stocks. Investors were focused on the upcoming key rate decision from the European Central Bank, adding to the positive sentiment. The pan-European Stoxx 600 index ended 0.8% higher at 521.23, marking its best single-day performance for the technology sector in more than four months. /TISG

Read also: Singapore shares open lower on Wednesday—STI drops 0.1%

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