STI Opens Higher Amid Global Optimism, Local Sentiment Buoyed By Bank Gains
Initial trading saw a total of 54.51 million securities worth S$52.26 million changing hands, with market breadth skewed towards gainers (101 advancers against 41 decliners), signalling a positive start for the session.
Bank counters led early gains with DBS edging up 0.07 points to S$47.06, while UOB traded at S$37.01 and OCBC at S$17.34, reflecting cautious optimism after Wall Street's modest rally last Friday, driven by tech earnings and resilient economic data.
Meanwhile, Seatrium held at S$2.37, Keppel traded at S$8.10, and SGX stood at S$15.91, all mostly steady as investors awaited further cues from regional corporate earnings and the upcoming US Federal Reserve policy decision due later this week.
Indices linked to low-carbon and REIT sectors, such as the iEdge-OCBC Singapore Low Carbon Select 40 Capped Index (3,281.18) and iEdge S-REIT Leaders Index (1,043.60), also posted mild gains, aligning with a broader risk-on sentiment across Asia.
Positive economic outlooks in Malaysia and China, coupled with easing concerns over global inflation, are likely to provide further support for the Singapore bourse throughout the day.
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