Singapore stocks rise at Monday’s open; STI up 0.2%
Patricia Karunungan
SINGAPORE stocks rose in early trade on Monday (Nov 21), tracking Wall Street gains as investors tried to shrug off concerns about further interest rate hikes.
The Straits Times Index (STI) rose 0.2 per cent or 5.4 points to 3,277.63 as at 9.02 am.
However, losers outnumbered gainers 64 to 53 after 35.5 million securities worth S$64.8 million changed hands.
Singtel was the top traded counter by volume on Monday morning, with 12.6 million securities changing hands as at 9.02 am. The counter was trading flat at S$2.68.
Genting Singapore also saw brisk activity at the open, with 1.5 million shares transacted as at 9.02 am. The counter rose 0.6 per cent or S$0.005 to S$0.87.
Singapore Airlines was one of the top three gainers on Monday morning, with the counter rising 0.6 per cent or S$0.03 to stand at S$5.51 as at 9.02 am.
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The trio of local banks were also trading higher on Monday morning. DBS was up 0.3 per cent or S$0.12 at S$35.66, while UOB rose by 0.4 per cent or S$0.12 to S$30.37. OCBC stood at S$12.58, up 0.2 per cent or S$0.03 as at 9.02 am.
In the US, Wall Street stocks picked up Friday as markets tried to shake off concerns of further interest rate hikes by the US central bank.
The Dow Jones Industrial Average rose 0.6 per cent to close at 33,745.69, while the broad-based S&P 500 edged up 0.5 per cent to 3,965.34.
The tech-rich Nasdaq Composite Index was essentially flat, finishing at 11,146.06.
European shares also rose on Friday in a broad-based rally led by retailers and automakers, while investors awaited minutes from the European Central Bank’s last policy meeting. A slew of data is due this week.
The Stoxx 600 jumped 1.2 per cent to log its best one-day performance in more than a week.
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