Singapore stocks advance at Monday’s open; STI up 0.5%

SINGAPORE stocks were up at the opening bell on Monday (Jul 4), following modest gains on Wall Street on Friday.

The Straits Times Index (STI) inched up 0.5 per cent or 14.77 points to 3,110.36 as at 9 am. Advancers outnumbered decliners 78 to 26 after 21.4 million securities worth S$94.9 million changed hands.

DBS was the top traded counter by volume, gaining 0.7 per cent or S$0.20 at S$29.69 with some 2.1 million shares traded in the morning.

Other heavily traded securities include ESR-Logos Reit, which moved up 1.3 per cent or S$0.005 at S$0.405 with 1.1 million shares changing hands, as well as Suntec Reit which opened unchanged at S$1.60 as 1 million shares were traded.

Among index counters, Mapletree Logistics Trust saw brisk trading as it started the trading day flat at S$1.69 with 925,000 shares changing hands.

Both UOB and OCBC were up in early trade on Monday. As at 9 am, UOB rose 0.9 per cent or S$0.24 at S$26.39 and OCBC gained 0.4 per cent or S$0.04 to S$11.34.

The US markets ended Friday's trading rallying into the Independence Day holiday weekend amid hopes for a better second half of the year.

The broad-based S&P 500 finished at 3,825.33 up 1.1 per cent for the day, the Dow Jones Industrial Average gained 1.1 per cent to 31,097.26, while the tech-rich Nasdaq Composite Index inched up 0.9 per cent to 11,127.84.

In Europe, stocks went against Wall Street's optimism as it ended Friday's trading session in the red.

The continent-wide Stoxx 600 index dropped 0.01 per cent to 407.13 on Friday.

Elsewhere in Asia, Tokyo stocks opened higher on Monday following gains on Wall Street, but stayed cautious over the economic impact of inflation.

The benchmark Nikkei 225 index was up 0.7 per cent, or 184.45 points, at 26,120.07 in early trade, while the broader Topix index was up 1 per cent, or 17.92 points, at 1,862.96.



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