Singapore stocks opened higher on Thursday morning, tracking gains in global markets after news that US core inflation had slowed to its lowest rate in three years and retail sales were flat, raising hopes for possible rate cuts.
In the broader market, there were more gainers than losers, with 102 stocks up and 39 down. A total of 75.2 million securities valued at S$88.1 million were traded.Thai Beverage dropped by 1%, losing S$0.005 to S$0.495, with 8.5 million shares exchanged. Genting Singapore fell by 1.6%, down S$0.015 to S$0.91, with 8.1 million shares traded. Mermaid Maritime saw a more significant drop of 7.2%, losing S$0.011 to S$0.141, with 3.5 million shares changing hands.
The Dow Jones Industrial Average climbed by 0.9% to 39,908, nearing the 40,000-point milestone. The broad-based S&P 500 rose by 1.2% to 5,308.15, and the Nasdaq Composite Index increased by 1.4% to 16,742.39, setting a new record for the second day in a row.
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