Despite a downtrend in global markets last week, the Straits Times Index saw a modest increase.
SINGAPORE: Singapore stocks opened on a positive note on Monday, June 10, despite global markets experiencing a downtrend at the end of the previous week. At 9:01 am, the Straits Times Index (STI) registered a modest gain of 0.1%, an increase of 1.86 points, bringing the index to 3,332.63, according to The Business Times.
In the broader market, the number of losers slightly outpaced gainers, with 59 stocks down and 54 up. A total of 57.8 million securities worth S$65.4 million were traded.
Seatrium was one of the most actively traded stocks, gaining 2.4%, or S$0.04, to reach S$1.74, with 4.9 million shares changing hands. Thai Beverage also saw significant trading activity, posting a 1% increase, or S$0.005, to S$0.515.
On the downside, CapitaLand Ascendas Real Estate Investment Trust saw a slight decline of 0.8%, or S$0.02, to S$2.63.
Banking stocks experienced mixed results. DBS saw its shares rise by 0.7%, or S$0.24, to close at S$35.76. United Overseas Bank (UOB) gained 0.4%, or S$0.12, reaching S$30.88, while Oversea-Chinese Banking Corporation (OCBC) saw a minor dip of 0.1%, or S$0.02, to S$14.25.
This positive opening in Singapore follows a weaker performance on Wall Street at the end of last week, where US stocks were pressured by May’s job data, which showed strong job growth and reduced hopes for imminent interest rate cuts by the Federal Reserve.
The S&P 500 fell by 0.1% to 5,346.99, the Nasdaq Composite dropped by 0.2% to 17,133.13, and the Dow Jones Industrial Average decreased by 0.2% to 38,798.99.
Similarly, European shares ended lower after the release of the US jobs report, with the pan-European Stoxx 600 index closing down by 0.2% at 523.55. However, the index recorded its first weekly gain in three weeks.
