Singapore shares rose on Tuesday’s open—STI edged up 0.1%

SINGAPORE: Singapore shares rose on Tuesday’s open, Oct 8, following a dip in US stocks the previous night. The Straits Times Index (STI) edged up 0.1%, or 4.22 points, to reach 3,603.41 by 9:01 am, The Business Times reports.

In the broader market, there were slightly more losers than gainers, with 65 stocks falling and 64 rising. A total of 88.5 million shares valued at S$80.6 million were traded.

Chinese agritech company Zixin led the trading volume. Its price remained unchanged at S$0.031, with 20.1 million shares exchanged.

Other actively traded stocks included Rex International, an oil exploration and production company, which rose 2.2%, adding S$0.003 to trade at S$0.142. Meanwhile, Thai Beverage saw its shares drop by 1.9%, falling S$0.01 to S$0.525.

Singapore’s major banks mostly saw gains at the start of trading. DBS Group Holdings gained 0.3%, or S$0.13, to S$38.49. OCBC Bank climbed up 1.3%, or S$0.20, to S$15.15. United Overseas Bank (UOB) remained steady, trading at S$31.86.

US stocks dropped on Monday as rising US Treasury bond yields fueled concerns about inflation. The Dow Jones Industrial Average dropped 0.9% to 41,954.24. The S&P 500 declined by 1% to 5,695.94, while the Nasdaq Composite fell 1.2% to 17,923.9.

European equities posted slight gains, but they were held back by rate-sensitive sectors like real estate and utilities. The pan-European Stoxx 600 index increased by 0.2%, closing at 519.48. /TISG

Read also: Singapore stocks started on a higher note on Monday—STI climbed 0.6%

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