Singapore stocks inch up on Friday while global markets mixed; STI up 0.03%

SINGAPORE shares saw a modest rise at Friday’s (Aug 5) open, while global markets posted a mixed showing on the back of monetary tightening in the UK.

The Straits Times Index (STI) was up 0.03 per cent, or 0.88 point, to 3,270.74, with 36.3 million shares worth S$44.4 million changing hands as at 9.01 am. Gainers outnumbered losers 61 to 44.

Healthcare specialist Thomson Medical was among the most active stocks, with 1.4 million shares traded as at 9 am. This sent the stock up 2.5 per cent, or S$0.002, to S$0.082.

Lenders DBS and OCBC were buoyant after a strong earnings season for the banking trio. DBS was up 0.2 per cent, or S$0.06, to S$32.47 at 9 am, while OCBC gained 0.1 per cent, or S$0.01, to S$12.22. UOB however started the day down 0.3 per cent, or S$0.08, to S$27.76.

Among index counters, CapitaLand Integrated Commercial Trust (CICT) was actively traded, with 1.4 million shares changing hands as at 9 am. The counter was down 1.8 per cent, or S$0.04, to S$2.15.

In the US, stocks ended mixed after the Bank of England (BOE) became the latest to tighten monetary supply to combat inflation. The market is also anticipating key jobs data for July on Friday, as well as the US Federal Reserve’s plans at its Sep 21 meeting.

SEE ALSO

Stocks to watch: Wilmar, Sembcorp, Ascendas Reit, FLCT, StarHub

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

The Dow Jones Industrial Average ended Thursday down 0.3 per cent at 32,726.82, while the broader S&P 500 was down 0.1 per cent to 4,151.94. The tech-rich Nasdaq Composite Index advanced 0.4 per cent to end the day at 12,720.58.

Over in Europe, the BOE’s move weighed on Britain’s FTSE 100, which underperformed peers. But the pan-European Stoxx 600 index hit near 2-month highs and inched up 0.2 per cent by the close, buoyed by strong quarterly results.

Tokyo stocks were flat at Friday’s open, amid businesses flagging that higher material prices were pressuring profits. The benchmark Nikkei 225 index was down just 0.04 per cent to 27,921.98, while the broader Topix index was flat at 1,930.77 in early trade.