SINGAPORE: Singapore stocks traded higher on Tuesday, Jan 7, following mixed results in overseas markets.
The Straits Times Index (STI) edged up 0.1%, or 5.04 points, to 3,826.88 at 9:02 am, The Business Times reported. In the broader market, 73 stocks gained while 43 declined, with 32.6 million shares valued at S$60.1 million traded.
Seatrium led in trading volume, rising 0.5% or S$0.01 at S$2.21, with three million shares traded. The Place Holdings, another actively traded stock, stayed flat at S$0.004, while CapitaLand Integrated Commercial Trust retreated 0.5%, or S$0.01, to S$1.98.
Local banks performed well at the open. United Overseas Bank (UOB) climbed 0.3%, or S$0.11, to S$36.91. Oversea-Chinese Banking Corporation (OCBC) also gained 0.3%, or S$0.05, to S$16.84, while DBS Bank climbed 0.4%, or S$0.19, to S$44.14.
Overseas markets were mixed. Wall Street saw a mixed close, with investors focusing on strong results from Taiwan-based Foxconn.
The S&P 500 rose 0.6% to 5,975.38, and the Nasdaq Composite Index advanced 1.2% to 19,864.98. Meanwhile, the Dow Jones Industrial Average slipped 0.1% to 42,706.56.
In Europe, stocks ended higher after a report suggested that US tariffs would be less severe than expected, boosting investor confidence. The pan-European Stoxx 600 Index rose 1% higher to 513.02. /TISG
Read also: Singapore stocks traded higher on Monday’s open—STI gained 0.5%
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