Singapore stocks opened positively on Monday—STI gained 0.1%

SINGAPORE: Singapore stocks opened positively on Monday, June 10, despite global markets ending the previous week on a downtrend.

At 9:01 am, the Straits Times Index (STI) registered a modest gain of 0.1%, translating to an increase of 1.86 points, bringing the index to 3,332.63, The Business Times reports.

In the broader market, there were slightly more losers than gainers, with 59 stocks down and 54 up. A total of 57.8 million securities worth S$65.4 million were traded.

Seatrium was one of the most actively traded stocks, gaining 2.4%, or S$0.04, to S$1.74, with 4.9 million shares changing hands. Thai Beverage also saw significant trading activity, posting a 1% increase, or S$0.005, to S$0.515.

On the flip side, CapitaLand Ascendas Real Estate Investment Trust declined by 0.8%, or S$0.02, to S$2.63.

Banking stocks had a mixed performance. DBS saw its shares rise by 0.7%, or S$0.24, closing at S$35.76. United Overseas Bank (UOB) saw a gain of 0.4%, or S$0.12, reaching S$30.88.

Meanwhile, Oversea-Chinese Banking Corporation (OCBC) dipped slightly by 0.1%, or S$0.02, to S$14.25.

This positive opening in Singapore follows a weaker performance on Wall Street at the end of last week.

US stocks were pressured by May’s job data, which showed strong job growth and reduced hopes for imminent interest rate cuts by the Federal Reserve.

The S&P 500 fell by 0.1% to 5,346.99, the Nasdaq Composite dropped by 0.2% to 17,133.13, and the Dow Jones Industrial Average decreased by 0.2% to 38,798.99.

Similarly, European shares ended lower after the release of the US jobs report. The pan-European Stoxx 600 index closed down by 0.2% at 523.55. Despite this dip, the index recorded its first weekly gain in three weeks. /TISG

Read also: Singapore stocks edge higher on Friday—STI up by 0.2%

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