SINGAPORE stocks began trading higher on Wednesday (Nov 27), despite US president-elect Donald Trump’s tariff threat on major trading partners.
As at 9.01 am, the Straits Times Index (STI) was up 0.3 per cent or 10.73 points at 3,723.12. Across the broader market, gainers outnumbered losers 50 to 41 after 17.1 million securities worth S$51.8 million changed hands.
CapitaLand Investment was the most actively traded counter in terms of volume, rising 0.4 per cent or S$0.01 to S$2.73, with 2.2 million shares transacted.
Shares of Genting Singapore were trading flat at S$0.77, while Singapore Post rose 0.9 per cent or S$0.005 to S$0.56, following talks regarding the potential sale of its Australian business.
The three local banks were all trading up at the open. DBS climbed 0.5 per cent or S$0.20 to S$41.91. UOB inched up 0.2 per cent or S$0.06 to S$36.41. OCBC gained 0.8 per cent or S$0.13 to S$16.23.
Wall Street stocks climbed to fresh records on Tuesday, shrugging off a threat from Trump to enact new tariffs on Mexico, Canada and China. The Dow Jones Industrial Average finished up 0.3 per cent at 44,860.31, its third straight closing record. The broad-based S&P 500 rose 0.6 per cent to 6,021.63, also a record, while the tech-rich Nasdaq Composite Index gained 0.6 per cent to 19,175.58.
On the other hand, European shares fell across the board, led by automakers, with worries regarding another global trade war due to Trump’s tariff threat on the US’ largest trading partners. The pan-European Stoxx 600 was down 0.6 per cent at 505.9, snapping its three-day winning streak.
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