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Singapore stocks fell again on Friday’s open—STI dropped 0.1% Singapore News

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The Straits Times Index dropped 0.1%, down by 2.12 points to 3,580.11 by 9.01 am, The Business Times reports. In the broader market, 61 stocks gained while 39 declined, after around 30.

8 million securities valued at S$41.2 million were traded.

Banking stocks saw a downward trend at the start of trading. UOB slipped by 0.1%, losing S$0.03 to trade at S$32.33. DBS also declined by 1%, dropping S$0.37 to S$37.93, while OCBC remained unchanged at S$15.23.US stocks surged on Thursday, boosted by strong earnings from Micron and signals from Beijing about a possible additional stimulus. Analysts noted that Micron’s profitability provided a significant lift to tech stocks, with the computer memory chip maker’s shares soaring by nearly 15%.

European stocks saw a sharp rise, led by gains in China-exposed companies following news of aggressive economic stimulus from China. Chip stocks also performed well, bolstered by Micron’s strong revenue outlook. The pan-European Stoxx 600 index rose by 1.3% to close at 525.61 points, a new record high and coming just 0.2 points short of its intraday peak.

 

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