Singapore stocks open higher on Monday; STI up 0.6%
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Michelle Zhu
SINGAPORE shares started Monday (Jul 31) on a positive note after US equities advanced the previous week on encouraging inflation data.
As at 9.01 am, the Straits Times Index (STI) rose 19.07 points or 0.6 per cent to 3,390.24. Across the broader market, gainers outnumbered losers 100 to 31 after 97.5 million securities worth S$74.4 million changed hands.
The most actively traded counter in terms of volume was Seatrium , with its share price remaining flat at S$0.143 after 53.9 million of its securities were transacted.
Other counters that were briskly traded included index stock Thai Beverage , which rose S$0.015 or 2.5 per cent to S$0.61 at the open. Units of CapitaLand Integrated Commercial Trust were up by S$0.01 or 0.5 per cent amid heavy volumes.
The trio of local banks logged strong gains in early trade, led by UOB which rose S$0.31 or 1 per cent to S$30.20. DBS increased S$0.19 or 0.6 per cent to S$34.45, and OCBC inched up S$0.05 or 0.4 per cent to trade at S$13.27.
Wall Street stocks ended Friday higher after the personal consumption expenditures price index showed that US inflation cooled further in June.
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The Dow Jones Industrial Average rose 0.5 per cent to 35,459.29, and the broad-based S&P 500 climbed 1 per cent to 4,582.23. The tech-heavy Nasdaq Composite Index surged 1.9 per cent to 14,316.66.
Meanwhile, European shares on Friday retreated from a months-long rally despite record performances from German blue chips.
The pan-European Stoxx 600 index ended 0.2 per cent lower at 470.78.
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