Singapore shares rose on Monday's open—STI gained 0.6%
Depositphotos/tang90246
Photo: Depositphotos/tang90246
SINGAPORE: Singapore shares rose on Monday's open, Nov 11, following a weekend of mixed results in overseas markets.
The Straits Times Index (STI) gained 0.6%, or 21.55 points, reaching 3,745.92 by 9:01 am, as reported by The Business Times.
In the broader market, 78 stocks gained while 61 declined, with 62.2 million securities valued at S$122.4 million traded.
Investment holding company HS Optimus led trading volume.
The company, which is involved in investment, door manufacturing, and property businesses, traded flat at S$0.002, with 7.5 million shares exchanged.
Other actively traded stocks included Chasen Holdings, a mainboard-listed logistics company, which gained 2.7% or S$0.003 to S$0.114, and telecom giant Singtel, which dropped 1.5%, or S$0.05, to S$3.20.
Banking stocks opened strong at the start of the trading day. UOB gained 2.3%, or S$0.81, to S$36.50. OCBC also rose 1.7%, or S$0.27, reaching S$16.33, while DBS climbed 0.7%, or S$0.30, moving up to S$42.70.
Wall Street stocks gained last week, driven by expectations for business-friendly policies following Donald Trump’s presidential win and a likely Republican majority in Congress.
The Dow Jones Industrial Average gained 0.6% to close at 43,988.99, while the S&P 500 rose 0.4% to finish at 5,995.54. The tech-heavy Nasdaq Composite Index edged up 0.1% to close at 19,286.78.
European equities declined, affected by disappointing stimulus measures from China and concerns that tariffs under Trump’s presidency could impact economic growth. The pan-European Stoxx 600 Index was down 0.7%, closing at 506.63. /TISG
Read also: Singapore stocks rose on Friday’s open—STI gained 0.4%
Featured image by Depositphotos
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Mary Alavanza
Contributing writer at The Independent Singapore