Mixed banking performance and global market pressures shape early trading session.
SINGAPORE: Singapore stocks experienced a modest uptick on Monday morning despite subdued activity in global markets.
According to The Business Times, the Straits Times Index (STI) rose by 3.56 points, or 0.1%, to reach 3,180.07 at 9:01 a.m. The broader market recorded 79 advancers against 36 decliners, with 38 million securities worth S$47.3 million traded.
Seatrium remained the most actively traded stock, holding steady at S$0.077 after 12.6 million shares were exchanged. Other notable performers included Genting Singapore, which climbed 0.5% or S$0.005 to S$0.925 with 1.8 million shares traded, and King Wan, which traded flat at S$0.027 with 1.5 million securities exchanged.
Banking Sector Performance
Singapore’s banking stocks showed mixed results in early trading. DBS Group fell sharply by 9.5% or S$3.47 to S$32.94, while OCBC rose 0.3% or S$0.04 to S$13.73, and UOB edged up by 0.2% or S$0.07 to S$30.
Global Market Trends
On Wall Street, tech stocks weighed down the Nasdaq and S&P 500, largely due to Netflix’s underwhelming earnings report. The Nasdaq Composite dropped 2.1% to 15,282.01, while the S&P 500 slipped 0.9% to 4,967.23. In contrast, the Dow Jones Industrial Average gained 0.6%, closing at 37,986.40, buoyed by robust first-quarter results from American Express.
European markets wrapped up Friday’s session with little change, marking a third consecutive week of declines. The pan-European Stoxx 600 fell by 0.1%, closing at 499.29, as geopolitical tensions and concerns over delayed interest rate cuts weighed on investor sentiment.
Singapore’s modest gain reflects a cautious market environment, with investors balancing local developments against global uncertainties.
