SINGAPORE stocks jumped more than 1 per cent on Thursday (Dec 5) morning, nearing a record high.
As at 11:52 am, the Straits Times Index (STI) rose 40.49 points or 1.07 per cent to 3,840.43. Across the broader market, gainers outnumbered losers 230 to 197 after 511.58 million securities worth S$535.24 million changed hands.
That put it on pace to break the last record high of 3,906.16 reached in 2007.
Actively traded counters included Marco Polo Marine, rising 1.9 per cent or S$0.001 to S$0.055, after posting an H2 net profit of S$10.7 million, down 41.5 per cent from S$18.3 million in the previous corresponding period, while Genting Singapore gained 1.3 per cent or S$0.01 to S$0.79.
The three local banks were a sea of green. DBS was up 2.58 per cent or S$1.13 at S$44.95, hitting a new all-time high. UOB climbed 1.42 per cent or S$0.52 to S$36.85, while OCBC rose 0.92 per cent or S$0.15 to S$16.44.
Wall Street stocks surged to fresh records on Wednesday, extending a post-election rally with optimism about more interest rate cuts, and an artificial intelligence boom after strong Salesforce results.
The Dow Jones Industrial Average finished at 45,014.04, up 0.7 per cent. The broad-based S&P 500 gained 0.6 per cent to 6,086.49, its fourth straight record, while the tech-rich Nasdaq Composite Index jumped 1.3 per cent to 19,735.12, its third straight record.
Over in Europe, stocks closed on Wednesday at a fresh one-month high, with German stocks finishing above the 20,000 mark. The spotlight came onto France, where a no-confidence vote in parliament will likely oust Prime Minister Michel Barnier’s government.
The pan-European Stoxx 600 closed 0.4 per cent higher at 517.45 and notched its fifth straight session of advances, with retail stocks leading sectoral advances by 2.2 per cent.
