Singapore shares rise at Wednesday’s open; STI up 0.1%

SINGAPORE stocks advanced in early trade on Wednesday (Nov 1), tracking overall gains in global markets.

The Straits Times Index (STI) rose 0.1 per cent or 4.35 points to 3,072.09 as at 9.01 am. Across the broader market, gainers outnumbered losers 55 to 47 after 26 million securities worth S$30.9 million changed hands.

Thai Beverage was the most actively traded counter in terms of volume, remaining flat at S$0.54 after 3.1 million of its shares moved. Genting Singapore , another index counter, was also unchanged at S$0.86 amid heavy trading.

Coal producer Geo Energy Resources was briskly transacted as well, falling S$0.005 or 1.7 per cent to S$0.29.

The three local banks were mixed in early trade. DBS gained S$0.18 or 0.6 per cent to S$33.03, and UOB inched up S$0.01 or 0.04 per cent to S$27.03. OCBC shed S$0.02 or 0.2 per cent to S$12.66. 

Wall Street stocks climbed on Tuesday to shrug off early weakness ahead of a Federal Reserve decision.

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The Dow Jones Industrial Average finished up 0.4 per cent at 33,052.87. The broad-based S&P 500 gained 0.7 per cent to 4,193.80, while the tech-rich Nasdaq Composite Index advanced 0.5 per cent to 12,851.24.

Likewise, European shares ended Tuesday with gains as investors grew comfort from a slew of corporate earnings beat.

The pan-European Stoxx 600 closed 0.6 per cent higher at 433.66, though it still posted its worst monthly performance since September 2022.