SINGAPORE shares were pulled into positive territory on Monday (Jan 9), following a strong showing in the US and Europe markets.
Singapore’s Straits Times Index (STI) rose 1.5 per cent or 48.28 points to 3,325 as at 9.25 am. Gainers outnumbered losers 188 to 93, or about two securities up for everyone one down, after 194.9 million securities worth S$303.1 million changed hands.
One of the most active counters by volume was Genting Singapore : G13 -1.03%, which rose 1 per cent or S$0.01 to S$0.98 with 20.2 million shares changing hands.
Other heavily traded securities included Sembcorp Marine : S51 +0.75%, up 0.8 per cent or S$0.001 to S$0.135, with 17.2 million shares traded, and Singtel : Z74 0%, which rose 1.6 per cent or S$0.04 to S$2.57.
Banking stocks rose in early morning trade. DBS : D05 +1.74% jumped 2.4 per cent or S$0.82 to S$35.29, UOB : U11 -0.03% advanced 1.3 per cent or S$0.39 to S$31.23, while OCBC : O39 +1.12% increased 1.4 per cent or S$0.18 to S$12.68.
Other active index counters included Singapore Airlines : C6L +1.27%, which climbed 1.6 per cent or S$0.09 to S$5.62 and CapitaLand Integrated Commercial Trust : C38U +0.5%, which was up 1.5 per cent or S$0.03 at S$2.03.
Wall Street stocks rallied on Friday following data which suggested a slowing US economy. This eases the pressure for more Federal Reserve interest rate hikes.
The Dow Jones Industrial Average finished up 2.1 per cent at 33,630.61, while the broad-based S&P 500 rose 2.3 per cent to 3,895.08. The Nasdaq Composite Index closed 2.6 per cent higher at 10,569.29.
In Europe, shares closed at seven-month highs on Friday, supported by miners and oil stocks. The Stoxx 600 index advanced 1.2 per cent.
(Source : BUSINESS TIMES) , all rights reserved by original source.
