Singapore stocks open higher on Monday; STI up 0.3%

SINGAPORE shares started the week higher on Monday (Jun 12) after US equities ended the week higher on expectations that interest rate hikes would be paused.   

The Straits Times Index (STI) was up 10.45 points or 0.3 per cent to 3,197.42 as at 9.01 am on Monday. Across the broader market, gainers outnumbered losers 75 to 34 after 34.5 million securities worth S$31.9 million changed hands.

Seatrium was the top traded counter by volume, gaining 0.8 per cent or S$0.001 to S$0.123 after 12.8 million of its shares changed hands.  

Thai Beverage also saw brisk trading, with its share price dropping 0.9 per cent or S$0.005 to S$0.57. Another index stock, Genting Singapore , was down 1.1 per cent or S$0.01 to S$0.935.

The trio of local banks opened mixed at Monday’s open. DBS gained 0.9 per cent or S$0.29 to S$31.20. UOB rose 0.1 per cent or S$0.04 to S$28.20, while OCBC fell 0.3 per cent or S$0.04 to S$12.35.

US indices closed higher on Friday on hopes that the Federal Reserve would pause interest rate hikes in this week’s meeting. 

SEE ALSO

Stocks to watch: Cromwell European Reit, Nio, LHN, Cortina, CFM Holdings

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

The broad-based S&P 500 gained 0.1 per cent or 4.93 points to 4,298.86. The tech-focused Nasdaq Composite Index rose 20.62 points or 0.2 per cent to 13,259.14, and the Dow Jones Industrial Average notched up 0.1 per cent or 43.17 points to 33,876.78.

The pan-European Stoxx 600 closed on Friday 0.2 per cent or 0.69 point lower to 460.01 as investors feared interest rate hikes from both the US Federal Reserve and the European Central Bank.