Singapore shares opened higher on Thursday—STI climbed 0.6%

SINGAPORE: Singapore shares rose on Thursday’s open, Sept 12, reflecting gains seen overnight in global markets. 

The Straits Times Index (STI) climbed 0.6%, or 22.42 points, to 3,553.59 by 9:01 am, according to The Business Times.

In the broader market, there were 82 gainers outpacing 25 losers, after a total of 55.7 million securities valued at S$118.8 million changed hands in early trading.

Dyna-Mac, an offshore oil and gas contractor, led the trading volume. The company saw its shares jump 23.2%, or S$0.115, to S$0.61, with seven million shares traded. 

Meanwhile, telecommunications giant Singtel remained relatively flat, trading at S$3.29, while offshore and marine specialist Seatrium edged up by 1.9%, gaining S$0.03 to trade at S$1.61.

The banking sector also saw positive movement. DBS rose 1.6%, adding S$0.59 to hit S$37.88. OCBC gained 0.9%, or S$0.13, reaching S$15.31. UOB also increased 0.6%, gaining S$0.19 to S$32.25

US stocks closed higher on Wednesday, boosted by strong results from semiconductor companies, with Micron and Intel seeing big gains. The tech-heavy Nasdaq Composite Index jumped 2.2%, closing at 17,395.53. The broader S&P 500 index rose 1.1% to 5,554.13, while the Dow Jones Industrial Average slightly increased by 0.3% to 40,861.71.

In Europe, markets ended largely flat, with tech gains offset by losses in real estate, as investors focused on the European Central Bank’s upcoming rate decision on Thursday. The pan-European Stoxx 600 index inched up by 0.01% to 508.02. /TISG

Read also: Singapore shares rose on Wednesday—STI increased by 0.4%

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