Singapore shares edge up at Friday’s open; STI up 0.1%

SINGAPORE stocks opened stronger on Friday (Jan 5), tracking overnight gains in the European market.

Singapore’s Straits Times Index (STI) rose 0.1 per cent or 2.58 points to 3,176.59 as at 9.02 am. Across the broader market, losers outnumbered gainers slightly 52 to 50, with 65.6 million securities worth S$46 million having changed hands. The most active counter by volume was Seatrium , which lost 0.9 per cent or S$0.001 to S$0.112, with 21.5 million shares traded. Other heavily traded securities included Singtel , which remained unchanged at S$2.38, with 3.9 million shares transacted, and Keppel Reit , which dropped 0.5 per cent or S$0.005 to S$0.92. Banking stocks traded mixed on Friday morning. DBS gained 0.3 per cent or S$0.11 to S$32.85, and UOB advanced 0.3 per cent or S$0.09 to S$28.17. OCBC lost 0.2 per cent or S$0.02 to S$12.72. US indices closed on Thursday mixed, as promising private-sector jobs data fuelled concerns that the markets might have been too enthusiastic about interest rate cuts. The Dow Jones Industrial Average finished the day flat at 37,440.34. The broad-based S&P 500 fell 0.3 per cent to 4,688.68, and the tech-rich Nasdaq Composite Index extended its recent slump to end the day down 0.6 per cent at 14,510.30. Over in Europe, shares gained back some losses after hitting three-week lows in the previous session. The pan-European Stoxx 600 ended 0.7 per cent up after falling for two straight days.