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Singapore stocks rose on Friday’s open—STI gained 0.4% Singapore News

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Singapore stocks rose on Friday’s open following a US interest rate cut of a quarter-point.

The move helped push global markets up, building on the positive reaction to Donald Trump’s presidential election win earlier this week.

In the broader market, 91 stocks gained compared to 38 that lost, after 68.6 million securities valued at S$153.5 million were traded. Banking stocks opened mixed. UOB rose 2.7%, or S$0.91, to S$34.21, while DBS increased by 0.2%, or S$0.08, to S$41.78. However, OCBC saw a drop of 0.3%, or S$0.05, to S$15.83.In the US, Wall Street stocks closed mixed on Thursday following the US presidential election, with the S&P 500 and Nasdaq Composite Index reaching new record highs after the Federal Reserve’s interest rate cut, while the Dow Jones Industrial Average ended nearly flat.

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