Singapore stocks open higher on Wednesday; STI up 0.2%
Varun Karthik
SINGAPORE stocks rose on Wednesday (May 10) morning, despite overnight losses on Wall Street and in Europe.
The Straits Times Index (STI) climbed 6.83 points or 0.2 per cent to 3,249.78 as at 9.01 am. Across the broader market, 53.2 million securities worth S$45.6 million changed hands, with losers outnumbering gainers slightly 57 to 56.
Seatrium was the most traded stock by volume. It was up S$0.001 or 0.8 per cent at S$0.132, after 19.8 million shares changed hands.
Another actively transacted stock by volume was Thai Beverage , with 5.2 million shares changing hands. The counter remained flat at S$0.62.
Golden-Agri Resources was also briskly traded at Wednesday’s open. It remained flat at S$0.265, after 3.9 million shares were traded.
The three local banks all gained on Wednesday morning. DBS rose S$0.03 or 0.1 per cent to S$31.73. Both OCBC and UOB were up S$0.16, representing a 1.3 per cent gain to S$12.41 for OCBC, and a 0.6 per cent gain to S$28.33 for UOB.
US stocks retreated on Tuesday, as investors awaited talks between President Joe Biden and Republican leaders over the debt ceiling and continued to anticipate the release of key US inflation data. The Nasdaq Composite Index led losses, slipping 0.6 per cent to 12,179.55. The S&P 500 was down 0.5 per cent at 4,119.17, while the Dow Jones Industrial Average closed 0.2 per cent lower at 33,561.81.
European stocks also fell on Tuesday, reversing some of Monday’s gains, following a spate of weak corporate earnings. The pan-European Stoxx 600 index was down 1.53 points or 0.3 per cent to 465.41.
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