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Singapore stocks started the week on a high note on Monday—STI rose by 0.5% Singapore News

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The Straits Times Index rose by 0.5%, adding 17.92 points to reach 3,573.35 at 9:01 am, as reported by The Business Times. In the broader market, 67 gainers outpaced 50 losers after 35.

9 million securities valued at S$56.5 million were traded.Mapletree Logistics Trust, however, saw a dip of 0.8% or S$0.01, bringing its price to S$1.31. Seatrium also saw high trading volumes, climbing 1.1% or S$0.02 to S$1.92.

Banking stocks were also up at the open. DBS gained 1%, or S$0.40, moving to S$39.15 per share. UOB rose by 0.6%, adding S$0.19 to reach S$32.29, while OCBC was up by 0.4%, or S$0.06, to trade at S$15.24. In the US, Wall Street stocks closed higher last Friday as investors anticipated interest rate cuts by the Federal Reserve following weak jobs data.The Dow Jones Industrial Average rose by 0.7% to close at 42,052.19, while the S&P 500 increased by 0.4% to 5,728.8. The tech-heavy Nasdaq Composite also climbed, up by 0.8% to close at 18,239.92.

In Europe, the main stock index saw its largest single-day gain in five weeks, driven by a rebound led by banking stocks. The pan-European Stoxx 600 index rose 1.1%, closing at 510.9 points.

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