Singapore stocks rise at Thursday’s open; STI up 0.4%
Add BT as a preferred sourcePatricia Karunungan
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SINGAPORE stocks rose in early trade on Thursday (Nov 24), tracking gains on Wall Street following indications that the Federal Reserve may soon moderate its interest rate hikes.
The Straits Times Index (STI) rose 0.4 per cent or 13.85 points to 3,269.84 as at 9.02 am.
Gainers outnumbered losers 79 to 22 after 27.3 million securities worth S$54.2 million changed hands.
Units of CapitaLand Integrated Commercial Trust were the most actively traded security by volume on Thursday morning, with 3.1 million units transacted as at 9.02 am. The counter rose 2.1 per cent or S$0.04 to S$1.99.
Keppel Real Estate Investment Trust also saw brisk activity with 1.5 million securities changing hands as at 9.02 am. The counter gained 1.2 per cent or S$0.01 to stand at S$0.87.
ComfortDelGro rose 1.6 per cent or S$0.02 to S$1.25 as at 9.02 am, bucking a trend of early session declines this week.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The trio of local banks was also trading higher on Thursday morning, with DBS up by 0.4 per cent or S$0.14 to S$35.50. UOB rose by 0.4 per cent or S$0.12 to S$30.27, while OCBC gained 0.2 per cent or S$0.02 to stand at S$12.44 as at 9.02 am.
In the US, Wall Street stocks rose for a second straight session on Wednesday following Federal Reserve meeting minutes that signalled a moderation in its aggressive policy to counter inflation.
The Dow Jones Industrial Average finished up 0.3 per cent at 34,194.06.
The broad-based S&P 500 advanced 0.6 per cent to 4,027.26, while the tech-rich Nasdaq Composite Index added 1 per cent at 34,194.06.
European shares also rose on Wednesday as mining gains offset losses in Credit Suisse after its profit warning, while investors awaited minutes of the latest Federal Reserve and European Central Bank policy meetings for clues on future interest rate hikes. The latter will release its minutes on Thursday.
The continent-wide Stoxx 600 index rose 0.6 per cent to its strongest level since Aug 19.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
