Singapore stocks open higher on Friday; STI up 0.1%
Samuel Oh
SINGAPORE shares opened higher on Friday (May 26) following strong overnight gains on Wall Street.
The Straits Times Index (STI) was up 3.09 points or 0.1 per cent to 3,210.81 as at 9.01 am. Across the broader market, gainers slightly outnumbered losers 51 to 50 after 29.5 million securities worth S$52.7 million changed hands.
Seatrium was the top traded stock by volume with 3.6 million shares changing hands, although its share price stayed flat at S$0.125.
Index counter Singtel was also actively traded, rising 0.4 per cent or S$0.01 to S$2.54 after 2.4 million securities changed hands at the open.
Meanwhile, NetLink NBN Trust fell 0.6 per cent or S$0.005 to S$0.90.
The trio of local banks were trading mixed at the open. Only DBS gained, rising 0.5 per cent or S$0.16 to S$31.77. UOB lost 0.5 per cent or S$0.15 to S$28.01 and OCBC fell 0.3 per cent or S$0.03 to S$12.22.
US indices closed higher on Thursday following the record quarterly revenue forecast made by American technology company Nvidia, which sparked a rally in AI companies’ stocks.
The broad-based S&P 500 rose 0.9 per cent or 36.04 points to 4,151.28 and the tech-focused Nasdaq Composite Index climbed 213.93 points or 1.7 per cent to 12,698.09. On the other hand, the Dow Jones Industrial Average fell 0.1 per cent or 35.27 points to 32,764.65.
The pan-European Stoxx 600 ended Thursday 0.3 per cent or 1.47 points lower to 456.18 points as pessimism lingers over the US debt ceiling standoff, a possible global economic slowdown, and recent losses in luxury stocks.
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