Singapore stocks rise on Thursday’s open

SINGAPORE: Singapore stocks rose on Thursday’s open (11 Jan), mirroring the overnight upward trend in global equity markets. This is as investors eagerly anticipate the release of crucial US inflation data later this week, The Edge Singapore reports.

The Straits Times Index (STI) showed resilience, advancing by 0.3%, or 10.52 points, reaching 3,190.48 at 9:02 am. In the broader market, gainers outpaced losers, with 70 stocks in the green against 39 in the red. Noteworthy was the exchange of 49.2 million securities, totaling S$53.9 million.

Seatrium emerged as the most actively traded stock by volume, maintaining stability at S$0.111 with 6.1 million shares changing hands.

Thai Beverage Public Company remained steady at S$0.535, recording six million shares traded. Meanwhile, Yangzijiang Shipbuilding rose by 0.7%, or S$0.01, closing at S$1.56, with 2.6 million shares traded.

Banking stocks displayed mixed performance during early morning trade. DBS climbing 0.8%, or S$0.27, to reach S$32.78. UOB added 0.7%, or S$0.19, closing at S$28.42. In contrast, OCBC experienced a marginal decline of 0.1%, or S$0.01, settling at S$12.82.

Wall Street echoed the rise in Singapore stocks pulling into positive territory on Wednesday. The Dow Jones Industrial Average closed 0.5% higher at 37,695.73, while the S&P 500 rose by 0.6%, reaching 4,783.45. The Nasdaq Composite Index ended with a 0.8% gain, closing at 14,969.65./TISG