The Straits Times Index (STI) rose by 0.7%, buoyed by positive market sentiment and sectoral gains.
Singapore’s stock market made a strong start to December, with the Straits Times Index (STI) climbing by 0.7%, or 27.04 points, to 3,766.33 at 9:01 am on Monday, December 2. This positive movement was in line with regional market trends during the traditionally strong holiday season for equities.
The broader market saw 85 stocks advancing, while only 23 declined. A total of 48.8 million shares, worth S$69.4 million, changed hands by early trading, reflecting a healthy market sentiment.
Thai Beverage (ThaiBev) topped the trading volumes, rising by 1.8%, or S$0.01, to S$0.575, with approximately 5.8 million shares exchanged. This surge was supported by news of the company’s strong performance, helping to lift overall market confidence.
A notable mover on the day was Singapore Post (SingPost), whose shares gained 2.6%, or S$0.015, to S$0.595. The rise followed the announcement of the company’s plan to divest its Australian business for A$1 billion (S$870 million), which was disclosed in a share purchase agreement before the market opened.
The banking sector also posted solid gains. DBS added 0.7%, or S$0.31, to trade at S$42.74. OCBC advanced 0.6%, or S$0.09, reaching S$16.37, while UOB gained 0.9%, or S$0.31, to S$36.67.
On the global front, Wall Street ended a shortened Black Friday session at record highs. The technology sector, led by companies like Nvidia, propelled the S&P 500 and Dow Jones Industrial Average to new peaks, while strong retail performance during the holiday shopping season also bolstered investor sentiment. The S&P 500 rose 0.6% to 6,032.44, surpassing its previous intraday record set on November 26. The Dow Jones climbed by 0.4% to 44,910.65, and the Nasdaq Composite Index added 0.8%, reaching 19,218.17 points.
In Europe, the Stoxx 600 ended the week higher, driven by a tech rally. The index rose 0.6% to 510.25 points on Friday, marking its first monthly gain since August, with an overall rise of 1% in November. Investors were also closely monitoring eurozone inflation data, speculating on the possibility of a larger interest rate cut in the near future.
With positive momentum across global markets, Singapore’s stock exchange has started the month on an optimistic note, with sectors like banking and logistics seeing notable performance.
