Singapore stocks started the week higher on Monday—STI edged up by 0.1%

SINGAPORE: Singapore stocks started the week higher on Monday, Sept 23, despite losses in global markets last week.

The Straits Times Index (STI) edged up by 0.1%, gaining 4.79 points to reach 3,629.55 by 9.01 am, as reported by The Business Times. In the broader market, 66 gainers outnumbered 45 losers after around 36.64 million securities valued at S$66.2 million were traded.

Singapore Post was the most traded stock in early trading. Its shares rose by 1%, gaining S$0.005 to S$0.485, with 5.1 million shares traded. Other active stocks included Golden Agri-Resources, a palm oil company, and technology firm Silverlake Axis.

Both companies saw no change in their share prices, with Golden Agri-Resources trading at S$0.275 and Silverlake Axis at S$0.375.

Banking stocks showed mixed results. OCBC fell by 0.3%, losing S$0.04 to S$15.43. Meanwhile, DBS increased 0.3%, gaining S$0.12 to reach S$39.12. UOB also climbed 0.5%, adding S$0.16 to trade at S$33.10.

Global markets had a quiet end to last week. On Friday, Wall Street’s major indices closed flat after a rally the previous day, sparked by the Federal Reserve’s interest rate cut.

The Dow Jones Industrial Average edged up 0.1%, adding 38.17 points to close at 42,063.36, supported by gains in Nike shares. However, the S&P 500 lost 0.2%, falling by 11.09 points to 5,702.55, while the Nasdaq Composite dropped 0.4%, down 65.66 points to finish at 17,948.32.

In Europe, markets slipped after the Fed’s interest rate decision. The Stoxx 600 index fell by 1.4%, losing 7.41 points to close at 514.26, even though it marked its second consecutive week of gains. /TISG

Read also: Singapore stocks declined on Friday’s open—STI dropped 0.1%

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