Singapore shares rise at Monday’s open; STI up 0.3%
SINGAPORE equities began trading in positive territory on Monday (Jun 3), after all three major US indexes ended the week significantly higher.
As at 9.01 am, the Straits Times Index (STI) edged up 0.3 per cent or 9.7 points to 3,346.29. Across the broader market, gainers outnumbered losers 85 to 38 after 189.5 million securities worth S$368.3 million changed hands.
The most actively traded counter by volume was Mapletree Logistics Trust with 61.9 million units moved. The counter rose 2.3 per cent or S$0.03 to S$1.36.
Seatrium shares were briskly transacted as well, increasing 2.3 per cent or S$0.04 to $1.80. City Developments Limited inched up 0.9 per cent or S$0.05 to S$5.66.
Performances from local banking stocks were mixed. UOB edged up 0.03 per cent or S$0.01 to S$30.80, and DBS increased 0.3 per cent or S$0.09 to S$36.08. OCBC remained flat at S$14.51.
All three major US indexes posted strong gains on Friday. The Dow Jones Industrial Average rose 1.5 per cent to 38,686.32, following a late sharp rally due to month-end repositioning. The S&P 500 gained 0.8 per cent to close at 5,277.51, and the Nasdaq Composite lost 0.01 per cent to 16,735.02.
In Europe, shares rose after softer US inflation data encouraged hopes of interest rate cuts by the Federal Reserve, while June rate cut bets for the eurozone remained intact despite hotter-than-expected inflation figures from the region.
The pan-European Stoxx 600 index edged up 0.3 per cent to 518.17, but still recorded a second week of declines as eurozone bond yields spiked to mirror their US counterparts on worries over interest rates remaining elevated.
Copyright SPH Media. All rights reserved.
