Singapore stocks climb at Thursday’s open after key export data; STI up 0.7%
SINGAPORE shares were trading higher on Thursday (Oct 17) morning, following news that the city-state’s key exports in September grew 2.7 per cent year on year, extending the 10.7 per cent jump in the previous month.
On a seasonally adjusted monthly basis, non-oil domestic exports rose 1.1 per cent in September, a turnaround from August’s 4.7 per cent decline.
The Straits Times Index (STI) rose 25 points or 0.7 per cent to 3,615.62 as at 9.02 am. Across the broader market, gainers outnumbered losers 87 to 42 after 39.7 million securities worth S$74.8 million changed hands.
The most actively traded counter by volume was Singtel, which gained 0.3 per cent or S$0.01 to S$3.18, with 3.4 million shares changing hands.
Other heavily traded securities included CapitaLand Integrated Commercial Trust, which rose 0.5 per cent or S$0.01 to S$2.10. Meanwhile, shares of Thai Beverage climbed 1.9 per cent or S$0.01 to S$0.54.
Banking stocks were trading up at the open. DBS increased 0.9 per cent or S$0.33 to S$39.33. OCBC rose 0.6 per cent or S$0.09 to S$15.19. UOB was up 0.2 per cent or S$0.07 at S$32.41.
Wall Street ended Wednesday higher amid a relatively positive start to the earnings season.
The Dow Jones Industrial Average gained 0.8 per cent to end at 43,077.7, while the broad-based S&P 500 Index added 0.5 per cent to 5,842.47. The tech-heavy Nasdaq Composite Index advanced 0.3 per cent, closing at 18,367.08.
In Europe, shares fell amid disappointing results from tech and luxury heavyweights ASML and LVMH. The continent-wide Stoxx 600 index fell 0.2 per cent to 519.6 points.
