SINGAPORE stocks began trading on Friday (May 17) morning in slightly positive territory, despite a retreat in global markets.
Singapore’s Straits Times Index (STI) rose 0.2 per cent or 6.45 points to 3,311.44 as at 9.02 am. Across the broader market, gainers outnumbered losers 68 to 41 after 36.6 million securities worth S$41.5 million changed hands.
The most active counter by volume was Thai Beverage : Y92 0%, which held steady at S$0.495 with 6.5 million shares changing hands. Other heavily traded securities included Singtel : Z74 0%, which remained unchanged at S$2.43 with 2.1 million shares transacted, and Lippo Malls Indonesia Retail Trust : D5IU 0%, which stayed at S$0.013 with two million units traded.
Banking stocks rose in early morning trade. DBS : D05 0% was trading up 0.3 per cent or S$0.11 at S$35.66. UOB : U11 0% was up 0.1 per cent or S$0.02 at S$30.14, and OCBC : O39 0% rose 0.7 per cent or S$0.10 to S$14.40.
US indices closed on Thursday modestly lower after Dow Jones’ first rise above 40,000 points, as investors continued to recalibrate their rate-cut hopes amid strong corporate earnings. The Dow Jones Industrial Average finished down 0.1 per cent at 39,869.38. The broad-based S&P 500 slipped 0.2 per cent to 5,297.1, and the tech-rich Nasdaq Composite Index fell 0.3 per cent to 16,698.32.
Over in Europe, shares ended a nine-day winning streak, dragged down by Siemens’ profit miss. The pan-European Stoxx 600 was down 0.2 per cent at 523.62, after hitting a record high on Wednesday.
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