The Business Times

Singapore stocks open higher on Monday; STI up 0.1%

Tan Nai Lun
Published Mon, Jul 5, 2021 · 09:31 AM

SINGAPORE stocks opened higher on Monday, tracking gains on Wall Street. The Straits Times Index (STI) was up 0.1 per cent or 2.83 points to 3,131.78 as at 9.01am.

Gainers outnumbered losers 93 to 40, with 41.3 million securities worth S$23.0 million changing hands.

The most active counter by volume was Sembcorp Marine, with 5.8 million shares worth S$720,000 traded as at 9.01am. Its shares were flat at 12.5 Singapore cents.

Hong Lai Huat was also heavily traded, with 5.2 million shares worth S$610,000 changing hands. Its shares were up 0.4 Singapore cent or 3.5 per cent at 11.8 cents.

Additionally, Ascendas Reit also saw brisk trading in early trade, up S$0.01 or 0.3 per cent to S$2.95. The trustee-manager of its Indian counterpart, Ascendas India Trust, had announced on Monday morning that it would invest 12 billion rupees (S$216.6 million) to develop and operate the first of two buildings planned for its upcoming data centre campus in India.

Banking stocks were mixed in early trade. DBS fell S$0.05 or 0.2 per cent to S$30.03 and UOB lost S$0.07 or 0.3 per cent to S$25.78, while OCBC gained S$0.03 or 0.3 per cent to S$11.91.

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In the US, Wall Street stocks surged to fresh records on Friday while the dollar retreated after a solid US jobs report that was not seen as accelerating a monetary policy shift.

The Dow Jones Industrial Average rose 152.82 points or 0.4 per cent to 34,786.35, the S&P 500 gained 32.4 points or 0.8 per cent to 4,352.34 and the Nasdaq Composite added 116.95 points or 0.8 per cent to 14,639.33.

European shares ended slightly higher on Friday on a boost from chipmakers, although gains were capped by weak bank stocks and growing concerns over the Delta variant of the coronavirus.

The pan-European Stoxx 600 index rose 0.3 per cent to close at 456.81 points, with technology stocks rising 1.1 per cent.

Elsewhere in Asia, Tokyo stocks opened lower on Monday with investors seeking new cues after a solid US jobs report lifted Wall Street shares to record highs last week.

The Nikkei 225 index dropped 0.5 per cent, or 137.06 points, to 28,646.22 in early trade. The broader Topix index slipped 0.4 per cent, or 8.28 points, to 1,948.03.

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