Singapore stocks slightly edge up on Friday—STI inched by 0.02%

Singapore stocks slightly edged up on Friday, May 31, following a night of mixed results in global markets.

In the broader market, 56 stocks declined while 51 gained. Banking stocks showed mixed results in the morning trade. DBS saw a slight drop of 0.1%, or S$0.04, bringing its share price to S$35.58. On the other hand, OCBC increased by 0.3%, or S$0.04, to S$14.43. UOB also experienced a 0.3% rise, with its shares climbing S$0.10 to S$30.66.In the United States, major indices closed lower on Thursday, linked to a report indicating slower economic growth and a disappointing earnings forecast from Salesforce, which significantly affected tech stocks.

Meanwhile, European markets ended Thursday on a positive note, driven by lower government bond yields. The pan-European Stoxx 600 index rose by 0.6% to close at 516.5, recovering from declines in the previous two sessions.

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