Singapore shares rise slightly on Wednesday; STI up 0.04%

SINGAPORE shares started Wednesday’s (Nov 30) trading session marginally higher despite bearish sentiments on Wall Street and Europe.

The Straits Times Index gained 0.04 per cent or 1.29 points to 3,277.65 as at 9 am. Gainers outnumbered losers 49 to 48, after 30.7 million securities worth S$39.3 million changed hands.

Quantum Health was the most heavily traded counter by volume as it traded at a flat price of S$0.006 with 5.5 million securities changing hands.

Among index counters, Thai Beverage and Genting Singapore also saw brisk trading at the opening bell. Thai Bev shares rose 0.8 per cent or S$0.005 at S$0.63 with 2.8 million securities traded, while Genting Sing opened unchanged at S$0.875 with 1.9 million shares traded.

All three local banks were in positive territory on Wednesday morning. UOB gained 0.9 per cent or S$0.27 to S$31.07, DBS rose 0.4 per cent or S$0.14 to S$35.09 and OCBC moved up 0.5 per cent or S$0.06 to S$12.43.

Over on Wall Street, stocks mostly closed lower on Tuesday as markets anticipated an appearance from Federal Reserve Chair Jerome Powell that could offer clues on the direction of monetary policy.

The Dow Jones Industrial Average veered into negative territory much of the day before ending flat at 33,852.53. The broad-based S&P 500 slipped 0.2 per cent to 3,957.63, while the tech-rich Nasdaq Composite Index shed 0.6 per cent to 10,983.78.

European markets appeared similarly bearish on Tuesday as a fall in technology and chemicals stocks offset a rally in commodity-linked shares spurred by hopes that Beijing could ease Covid-19 curbs following recent protests.

The pan-European index closed a volatile session 0.1 per cent lower after having risen up to 0.5 per cent.

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