SINGAPORE: Singapore stocks rose as trading began on Monday, buoyed by a positive shift in global markets at the end of last week.
The Straits Times Index (STI) gained 0.5%, or 17.61 points, to 3,763.63 by 9:00 am, The Business Times reported.
In the broader market, 73 stocks advanced, while 24 declined, with 35.6 million securities valued at S$49.3 million traded.
Yangzijiang Shipbuilding led the trading volume, climbing 0.7%, or S$0.02, to S$2.71, with 2.7 million shares traded.
CapitaLand Integrated Commercial Trust gained S$0.01, or 0.5%, to S$1.94. Meanwhile, Bacui Technologies dropped sharply by 25%, or S$0.001, to S$0.003.
Banking stocks opened strong. DBS gained 0.7%, or S$0.30, to S$42.63, while UOB added 0.6%, or S$0.21, to S$36.64. OCBC edged up 0.2%, or S$0.04, to S$16.50.
Wall Street closed higher on Friday, with all three major indices recording weekly gains as investors were encouraged by data showing strong economic activity in the United States.
The S&P 500 rose 0.3%, or 19.55 points, to 5,968.26, and the Nasdaq Composite added 0.1%, or 26.45 points, to 18,998.87.
The Dow Jones Industrial Average recorded the largest increase, gaining 1%, or 423.28 points, to 44,293.63.
In Europe, the benchmark index reached a one-week high on Friday, driven by a surge in real estate stocks. Reduced geopolitical tensions also eased recent selling pressure.
The pan-European Stoxx 600 rose 1.2%, its strongest daily gain in almost two months. This helped the index achieve a 1.1% weekly gain, ending a four-week losing streak, the longest since May 2022. /TISG
Read also: Singapore stocks rose on Friday’s open—STI gained 0.3%
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