SINGAPORE equities rose at the opening bell on Monday (Jul 15) to track global gains the prior week.
The Straits Times Index (STI) advanced 6.04 points or 0.2 per cent to 3,503.82 as at 9.01 am. Across the broader market, gainers outnumbered losers 86 to 48 after 58 million securities worth S$55.7 million changed hands.
Shipbuilding and repairing company Pacific Radiance was the most actively traded counter of the morning in terms of volume, climbing S$0.002 or 6.5 per cent to S$0.033 after 3.6 million securities worth S$110,000 changed hands.
Shares of concrete manufacturer HGH Holdings were briskly transacted as well, rising S$0.002 or 14.3 per cent to S$0.016 in early trade.
Media entertainment company mm2 Asia rose S$0.001 or 6.3 per cent to S$0.017 amid heavy volumes as well.
The three local banks were a sea of green at the open, with DBS gaining S$0.10 or 0.3 per cent to S$38.03. OCBC and UOB’s share prices gained S$0.08 each. Shares of OCBC were up 0.5 per cent to S$15.36, while UOB edged up 0.2 per cent to S$33.13.
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Wall Street closed higher last Friday on bets that the US Federal Reserve will cut interest rates in September. The S&P 500 climbed 0.6 per cent to end the session at 5,615.35. The Nasdaq gained 0.6 per cent to 18,398.44, while the Dow Jones Industrial Average rose 0.6 per cent to 40,000.9.
Over in Europe, shares advanced on Friday amid upbeat earnings and global investor optimism about the potential Fed rate cut. The pan-European Stoxx 600 index closed up nearly 0.9 per cent at 524.08.
