Singapore stocks rose on Tuesday—STI increased by 0.2%

SINGAPORE: Singapore stocks rose on Tuesday, July 2, influenced by overnight gains in the US and European markets. The Straits Times Index (STI) increased by 6.37 points or 0.2%, reaching 3,344.94 by 9:01 am, The Business Times reports. In the broader market, 72 stocks rose, and 36 fell, with 44.1 million securities worth S$62 million traded. Thai Beverage was the most actively traded stock, falling by S$0.005 or 1.1% to S$0.44, with 13.8 million shares exchanged. In contrast, Yoma Strategic saw a rise of S$0.003 or 2.3% to S$0.136, while Genting Singapore increased by S$0.005 or 0.6% to S$0.85. Local banks had mixed performances at the opening. United Overseas Bank (UOB) dropped by S$0.08 or 0.3% to S$31.22. Conversely, DBS Bank increased by S$0.15 or 0.4% to S$36.27, and Oversea-Chinese Banking Corporation (OCBC) rose by S$0.01 or 0.1% to S$14.51. Wall Street indices ended Monday on a positive note, ignoring a rise in US Treasury yields, which analysts linked to changing election expectations. The Nasdaq reached a new record, rising by 0.8% to 17,879.3, driven by tech stocks. The Dow Jones Industrial Average went up by 0.1% to 39,169.52, while the broad-based S&P 500 climbed by 0.3% to 5,475.09. In Europe, stocks closed higher on Monday, led by French shares after the far-right National Rally party made significant gains in the first round of parliamentary elections. This helped the Stoxx 600 index end a four-session losing streak, closing 0.3% higher at 513.04. /TISG Read also: Singapore shares edge lower on Monday—STI down by 0.1% Featured image by Depositphotos