SINGAPORE shares started trading in positive territories on Tuesday (Jan 28).
As at 9.01am, the Straits Times Index (STI) was up 0.8 per cent or 31.05 points higher at 3,827.76. Across the broader market, gainers outnumbered losers 67 to 30 after 30.8 million securities worth S$85.7 million changed hands.
Among the actively traded counters by volume was Singtel, which rose 0.9 per cent or S$0.03 to S$3.23, after 2.9 million shares changed hands.
Units of CapitaLand Ascendas Reit increased 2 per cent or S$0.05 to S$2.61. Units of CapitaLand Integrated Commercial Trust inched up 1.6 per cent or S$0.03 to S$1.96.
Local banking stocks were up in early morning trade. DBS shares were up 0.6 per cent, or S$0.28 at S$43.88. UOB shares rose 0.9 per cent, or S$0.33 to S$37.35. OCBC shares increased 1.2 per cent, or S$0.21 to S$17.30.
Wall Street stocks were mixed, with the S&P 500 and the Nasdaq ending sharply lower on Monday as AI chipmakers like Nvidia sold off after surging popularity of a low-cost Chinese artificial intelligence model raised investor worries about the outlooks for current AI leaders in the United States.
The S&P 500 lost 88.96 points or 1.5 per cent to end at 6,012.28 points, while the Nasdaq Composite lost 612.47 points or 3.1 per cent to 19,341.83.
The Dow Jones Industrial Average rose 289.33 points, or 0.7 per cent, to 44,713.58.
European shares also slipped, with the pan-European Stoxx 600 dropping 0.1 per cent earlier in the day before closing at 529.69 points. Pressure on the stocks came with concerns about AI investment and tech sector valuations.
Copyright SPH Media. All rights reserved.
