Singapore stocks slightly rose on Tuesday—STI edged up by 0.1%

SINGAPORE: Singapore stocks slightly rose on Tuesday, Aug 20, tracking gains seen in global markets overnight.

The Straits Times Index (STI) edged up by 0.1%, or 4.32 points, to 3,359.88 at 9:01 am, according to The Business Times. In the broader market, 81 stocks advanced while 24 declined, with 46 million securities worth S$48.4 million traded.

Soilbuild Construction was one of the most actively traded stocks by volume, rising by 6.1%, or S$0.005, to S$0.087, with 6.4 million shares exchanged. Mapletree Logistics Trust also saw significant trading activity, rising by 1.6%, or S$0.02, to S$1.31.

Top Glove rose 1.7%, or S$0.005, to S$0.305.

Banking stocks contributed to the market’s early gains as well. DBS shares increased by 0.3%, or S$0.12, to S$35.74. UOB also posted a 0.3% gain, with shares increasing by S$0.10 to S$30.77. OCBC slightly rose by 0.1%, or S$0.02, bringing its share price to S$14.30.

Wall Street stocks closed higher on Monday as markets anticipated earnings from US retailers and upcoming central bank remarks.

The Dow Jones Industrial Average gained 0.6%, finishing at 40,896.53. The S&P 500 rose 1% to 5,608.25, while the tech-heavy Nasdaq Composite Index increased 1.4% to 17,876.77.

European markets also ended positively as retail and basic resources stocks gained, while investors awaited US Federal Reserve Chair Jerome Powell’s speech for hints on possible rate cuts. The pan-European Stoxx 600 index climbed 0.6%, closing at 514.59. /TISG

Read also: Singapore stocks open on a positive note on Monday—STI rose by 1.1%

Featured image by Depositphotos