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Singapore shares rally at Thursday’s open; STI up 0.6%

Singapore shares rally at Thursday’s open; STI up 0.6%

SINGAPORE equities gained steadily at the opening bell on Thursday (Jul 11), mirroring strong overnight gains in global markets. 

The Straits Times Index (STI) rose 18.97 points or 0.6 per cent as at 9.01 am. Across the broader market, gainers outnumbered losers 74 to 24 after 49.3 million securities worth S$63.2 million changed hands.

Shares of Yoma Strategic : Z59 0% were the most actively traded in terms of volume, climbing S$0.002 or 1.9 per cent to S$0.105 with 9.3 million securities traded.

After requesting a halt on Monday, V2Y : V2Y +6.67%resumed trading in large volumes post the announcement of its proposed S$2 million placement. The insurtech company gained S$0.003 or 20 per cent to S$0.018.

Shares of LifeBrandz : 1D3 0% were briskly transacted as well, though the food and beverage group remained flat at S$0.003.

The local banks were trading higher at the open, with DBS : D05 +0.73% advancing S$0.30 or 0.8 per cent to S$38.45. UOB : U11 +0.12% climbed S$0.12 or 0.4 per cent to S$33.22, and OCBC : O39 +0.39% was up S$0.08 or 0.5 per cent at S$15.31. 

Wall Street stocks ended Wednesday higher as major indices hit fresh records amid rising expectations for upcoming interest rate cuts. The broad-based S&P 500 climbed 1 per cent to 5,633.91 for its sixth straight record, while the tech-centered Nasdaq Composite Index jumped 1.2 per cent to end at its seventh straight record at 18,647.45. The Dow Jones Industrial Average gained 1.1 per cent to 39,721.36.

European shares advanced on Wednesday amid broad-based gains as investors digested more comments from US Federal Reserve chair Jerome Powell’s second day of testimony. The pan-European Stoxx 600 gained 0.9 per cent to 516.42, buoyed by a rise in real estate shares.

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