Singapore shares track global rally to rise at Monday’s open; STI up 0.2%

SINGAPORE stocks were pulled into positive territory at Monday’s (Dec 4) open after stocks on Wall Street and Europe closed the previous week higher.

On the Singapore bourse, the Straits Times Index headed up 0.2 per cent or or 5.21 points to 3,095.52 as at 9.08 am. Across the broader market, gainers outnumbered losers 91 to 46, after 64.8 million securities worth S$72.3 million changed hands.

One of the most active counters by volume was Thai Beverage Public Company , which fell 1 per cent or S$0.005 to S$0.495, with 4.8 million shares traded

Other heavily traded securities included Medtecs International , which climbed 4.4 per cent or S$0.006 to S$0.142, with 3.8 million shares traded, as well as Seatrium , which held steady at S$0.102 with 3.7 million shares traded.

Banking stocks rose in early morning trade. DBS rose 0.1 per cent or S$0.04 to S$31.94, UOB was up 0.3 per cent or S$0.08 to S$27.39, while OCBC advanced 0.2 per cent or S$0.02 to S$12.66.

Wall Street stocks rallied on Friday, with the S&P 500 index rising to its highest level this year on comments by Fed chair Jerome Powell that it was “premature” to speculate on when the central bank would start cutting interests.

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The broad-based S&P 500 added 0.6 per cent to 4,594.63 – its highest level since March 2022. The Dow Jones Industrial Average rose 0.8 per cent to 36,245.50, while the tech-heavy Nasdaq Composite Index finished 0.6 per cent higher at 14,305.03.

The pan-European Stoxx 600, meanwhile, closed up 1 per cent to its highest level since August after a monthly gain of 6.4 per cent in November. It closed higher for a third straight week, supported by weekly gains in rate-sensitive real estate stocks.