Singapore Stocks Rise as US Market Remains Quiet

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SINGAPORE STOCKS,STRAITS TIMES INDEX,US MARKET

Singapore's Straits Times Index (STI) increased 0.6% on Friday morning, driven by gains in banking stocks and key companies like OKH Global and Mapletree Pan Asia Commercial Trust. The broader market saw 72 stocks rise and 32 decline. The US market saw little movement on Thursday with the Dow Jones, S&P 500, and Nasdaq Composite all experiencing minor fluctuations.

Singapore stocks rose as trading began on Friday morning , following a quiet session in the US market. The Straits Times Index increased 0.6%, or 22.28 points, to 3,783.73 at 9:02 am, as reported by The Business Times.

In the broader market, 72 stocks gained while 32 declined, with 40.9 million securities valued at S$45.9 million traded. OKH Global led in trading volume. Its shares increased by 3.5% or S$0.001 to S$0.03, with 3.8 million shares exchanged. Mapletree Pan Asia Commercial Trust rose by 0.8% or S$0.01 to S$1.22, while Genting Singapore climbed 0.7% or S$0.005 to S$0.765.

Banking stocks also performed well. UOB gained 0.5% or S$0.18 to S$36.28, DBS increased 0.6% or S$0.26 to S$43.80, and OCBC rose 0.5% or S$0.08 to S$16.57. In the US, Wall Street saw little movement on Thursday as US Treasury bond yields fell, while a Mastercard SpendingPulse report showed a 3.8% rise in US holiday retail sales from Nov 1 to Dec 24.Stocks moved between gains and losses during the post-Christmas trading session, with several overseas markets closed. The Dow Jones Industrial Average rose 0.1% to 43,325.8, while the S&P 500 edged down less than 0.1% to 6,037.59. The Nasdaq Composite Index also slipped 0.1% to 20,020.36.

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