Singapore stocks showed strong performance on Wednesday—STI climbed 1%

SINGAPORE: Singapore stocks showed strong performance on Wednesday morning, July 3, following a mixed session for global markets overnight.

The Business Times reported that the Straits Times Index (STI) had climbed by 33.8 points, or 1%, reaching 3,401.7 by 9:01 am.

In the broader market, there were 66 gainers compared to 22 losers, as 36.9 million securities valued at S$76.5 million were traded.

Thai Beverage was the most actively traded stock in terms of volume despite going against the overall trend. It fell by S$0.015, or 3.4%, to S$0.425, with 8.3 million shares exchanged.

On the flip side, GS Holdings saw a significant rise, climbing by S$0.007, or 33.3%, to S$0.028, amid high trading activity.

CapitaLand Integrated Commercial Trust also edged up, gaining S$0.01, or 0.5%, to reach S$1.98.

The three major local banks continued their upward trend, building on record highs from the previous day. DBS rose by S$0.59, or 1.6%, to S$37.69.

OCBC increased by S$0.17, or 1.2%, reaching S$14.97. UOB climbed by S$0.50, or 1.6%, to S$32.15.

In the United States, major indices were lifted by positive comments from Federal Reserve Chair Jerome Powell, which boosted expectations for interest rate cuts.

The S&P 500 climbed by 0.6%, achieving a new high of 5,509.01.

The tech-heavy Nasdaq Composite Index also rose by 0.8% to 18,028.76. The Dow Jones Industrial Average saw a smaller gain of 0.4%, closing at 39,331.85.

In Europe, shares fell to two-week lows due to data showing continued high inflation in the eurozone’s services sector.

The pan-European Stoxx 600 index dropped by 0.4% to 510.91, slightly above near two-month lows hit earlier in the session. /TISG

Read also: Singapore stocks rose on Tuesday—STI increased by 0.2%

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