SINGAPORE: Singapore stocks traded higher on Thursday morning (Dec 5), supported by strong performances in global markets. The Straits Times Index (STI) rose 0.6%, or 23.73 points, to 3,823.67 at 9:02 am, according to The Business Times.
In the broader market, 78 stocks gained, while 40 declined with 54.3 million securities valued at S$68.6 million traded.
OKH Global led the trading volume, rising 27.8% or S$0.005 to S$0.023, with 14.9 million shares exchanged. Marco Polo Marine climbed 1.9% or S$0.001 to S$0.055, following its report of a second-half (H2) net profit of S$10.7 million, down 41.5% from the previous corresponding period’s S$18.3 million. Genting Singapore added 1.3% or S$0.01 to S$0.79.
The three local banks also saw gains as trading began. DBS rose 1.3% or S$0.57 to S$44.39, UOB increased 0.6% or S$0.20 to S$36.85, and OCBC was up 0.9% or S$0.14 to S$16.44.
Wall Street hit new record highs on Wednesday, driven by post-election gains, hopes for further interest rate cuts, and a boost from strong Salesforce results in the artificial intelligence sector.
The Dow Jones Industrial Average rose 0.7% to 45,014.04, and the S&P 500 climbed 0.6% to 6,086.49, marking its fourth consecutive record, while the tech-heavy Nasdaq Composite Index gained 1.3% to 19,735.12, achieving its third straight record.
European stocks ended Wednesday at a one-month high, with Germany stocks closing above the 20,000 mark. Investors’ attention focused on France, where a no-confidence vote in parliament could remove Prime Minister Michel Barnier.
The pan-European Stoxx 600 gained 0.4% to 517.45, marking its fifth consecutive rise, led by a 2.2% jump in retail stocks. /TISG
Read also: Singapore stocks traded higher on Wednesday morning—STI rose 0.2%
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