Singapore shares open higher on Friday; STI up 0.4%

SINGAPORE shares started trading in positive territory on Friday (Jun 30), largely mirroring global markets.

As at 9.01 am, the Straits Times Index (STI) was up 12.88 points or 0.4 per cent at 3,220.16. Across the broader market, advancers outnumbered decliners 67 to 55, as 109 million securities worth S$475.7 million changed hands.

Index counter Singapore Airlines was the most actively traded in terms of volume, falling 4.7 per cent or S$0.35 to S$7.15 with 58.3 million shares transacted.

Shares of Seatrium , another STI constituent, were also briskly traded, shedding 0.8 per cent or S$0.001 to S$0.125 at the open.

Beverage producer and distributor Thai Beverage gained 2.6 per cent or S$0.015 to S$0.585.

The trio of local banks rose in early trade. DBS rose 0.9 per cent or S$0.29 to S$31.81, UOB gained 0.7 per cent or S$0.19 to S$27.91, and OCBC advanced 0.7 per cent or S$0.08 to S$12.33.

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In the US, stocks closed mixed on Thursday as investors weighed strong US economic data against further signs that central banks are likely to continue hiking interest rates to fight inflation. The Dow Jones Industrial Average finished up 0.8 per cent at 34,122.42, while the broad-based S&P 500 rose 0.5 per cent to 4,396.44. The tech-rich Nasdaq Composite Index shed 0.003 per cent to 13,591.33.

Over in Europe, shares edged higher on Thursday with Swedish retailer H&M rallying on stronger-than-expected quarterly profit, but economic data from both sides of the Atlantic and hawkish signals from major central bankers weighed on markets. The pan-European Stoxx 600 index closed 0.1 per cent higher at 456.64.