Singapore stocks track global rally on Friday; STI up 0.1%

SINGAPORE stocks began trading stronger on Friday (Jan 26), following overnight gains on global markets.

The Straits Times Index (STI) rose 0.1 per cent or 2.45 points to 3,150.09 as at 9.02 am. Across the broader market, gainers outnumbered losers 61 to 39 after 34.2 million securities worth S$44.1 million changed hands.

The most active counter by volume was Thai Beverage, which lost 1 per cent or S$0.005 to S$0.515 after 7.5 million shares changed hands. Seatrium was also briskly traded, remaining steady at S$0.105 with 5.9 million shares transacted.

Units of Keppel DC Reit were heavily traded, tumbling 2.8 per cent or S$0.05 to S$1.75 with 3.1 million units transacted. The real estate investment trust’s (Reit) distribution per unit dropped 16.1 per cent to S$0.04332 on higher finance costs and property expenses.

Banking stocks rose in early morning trade. DBS was trading up 0.3 per cent or S$0.08 at S$32. OCBC rose 0.5 per cent or S$0.06 to S$12.96, while UOB gained 0.2 per cent or S$0.06 to S$28.21.

US indices closed on Thursday with fresh records as markets rallied on strong economic growth data. The Dow Jones Industrial Average gained 0.6 per cent to 38,049.13, while the broad-based S&P 500 gained 0.5 per cent to 4,894.16, its fourth straight record close. The tech-rich Nasdaq Composite Index added 0.2 per cent to 15,510.5.

SEE ALSO

Stocks to watch: Frasers Centrepoint Trust, Frasers Property, Mapletree Industrial Trust, Keppel, Cordlife, Dasin Retail Trust, LHN

Over in Europe, stocks also rose after the central bank kept interest rates on hold for a third straight meeting. The Stoxx Europe 600 edged 0.3 per cent higher to 478.53, with technology stocks outperforming.