SINGAPORE: Singapore stocks started the week on a high note on Monday, Nov 4, following gains in global markets.
The Straits Times Index (STI) rose by 0.5%, adding 17.92 points to reach 3,573.35 at 9:01 am, as reported by The Business Times.
In the broader market, 67 gainers outpaced 50 losers after 35.9 million securities valued at S$56.5 million were traded.
Singtel led the trading volume, rising 1% or S$0.03 to reach S$3.13 with 3.3 million shares traded.
Mapletree Logistics Trust, however, saw a dip of 0.8% or S$0.01, bringing its price to S$1.31. Seatrium also saw high trading volumes, climbing 1.1% or S$0.02 to S$1.92.
Banking stocks were also up at the open. DBS gained 1%, or S$0.40, moving to S$39.15 per share. UOB rose by 0.6%, adding S$0.19 to reach S$32.29, while OCBC was up by 0.4%, or S$0.06, to trade at S$15.24.
In the US, Wall Street stocks closed higher last Friday as investors anticipated interest rate cuts by the Federal Reserve following weak jobs data.
The Dow Jones Industrial Average rose by 0.7% to close at 42,052.19, while the S&P 500 increased by 0.4% to 5,728.8. The tech-heavy Nasdaq Composite also climbed, up by 0.8% to close at 18,239.92.
In Europe, the main stock index saw its largest single-day gain in five weeks, driven by a rebound led by banking stocks. The pan-European Stoxx 600 index rose 1.1%, closing at 510.9 points. /TISG
Read also: Singapore stocks fell as trading began on Friday—STI dropped by 0.8%
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