Singapore shares open Monday higher on Q3 GDP uptick; STI up 0.2%
SINGAPORE stocks rose at the opening bell on Monday (Oct 14) after advance estimates showed that the city state’s economy grew 4.1 per cent year on year during the third quarter of 2024.
It was also announced on the same morning that monetary policy settings were maintained for the sixth straight meeting in October, in line with market expectations.
The Straits Times Index (STI) rose 5.79 points or 0.2 per cent to 3,579.55 at 9.01 am. Across the broader market, gainers outnumbered losers 78 to 40 after 53.3 million securities worth S$63.1 million changed hands.
Gold miner Wilton Resources was the most actively traded counter by volume. It rose S$0.001 or 14.3 per cent to S$0.008 with 7.1 million of its shares transacted.
Yangzijiang Shipbuilding lost S$0.12 or 4.8 per cent to S$2.38 after it announced over the weekend that arbitration proceedings had been filed in London two years ago against three of its units.
Shares of biometric solutions provider Totm Technologies were briskly traded as well, falling S$0.002 or 6.3 per cent to S$0.03.
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Local banks were up at the open. DBS and UOB gained S$0.15 each. DBS rose 0.4 per cent to S$38.84, while UOB increased 0.5 per cent to S$31.97. OCBC climbed S$0.07 or 0.5 per cent to S$15.04.
Wall Street equities rallied to fresh records at Friday’s close as markets shrugged off mixed economic data.
The Dow Jones Industrial Average shot up 1 per cent to 42,863.86, an all-time high. The broad-based S&P 500 rose 0.6 per cent to 5,815.03, also a record, while the tech-rich Nasdaq Composite Index advanced 0.3 per cent to 18,342.94.
Over in Europe, stocks ended the week higher as investors assessed the impact of hotter-than-expected US inflation data and the third-quarter earnings season kicked off.
The Stoxx Europe 600 index rose 0.6 per cent to 521.98 at Friday’s close in London.
