Singapore shares rose last week

$GENTING SINGAPORE LIMITED(G13.SI)$

Gainers outnumbered losers 64 to 33, or about 2 securities up for every 1 down, after 60 million securities worth S$45.8 million changed hands.PHOTO: YEN MENG JIIN, BT

SINGAPORE shares

SINGAPORE shares were pulled into positive territory on Friday (Jul 22) after the US and Europe markets closed higher on Thursday, amid rosy corporate results and the European Central Bank’s (ECB)surprise half-point interest rate hike.

On the Singapore bourse, the Straits Times Index rose 0.5 per cent or 16.46 points to 3,168.76 as at 9.02 am. Gainers outnumbered losers 64 to 33, or about 2 securities up for every 1 down, after 60 million securities worth S$45.8 million changed hands.

One of the most active counters by volume wasGenting Singapore : G13 0%, which rose 2.6 per cent or S$0.02 to S$0.795 with 7.1 million shares changing hands.

Other heavily traded securities includedSembcorp Marine : S51 +2.86%, which was flat at S$0.104 with 5.5 million shares traded, as well as Thai Beverage Public Company, which remained unchanged at S$0.63 with 2.7 million shares traded.

Banking stocks rose in early morning trade.DBS : D05 0%advanced 1 per cent or S$0.29 to S$30.96,UOB : U11 +0.15%climbed 0.9 per cent or S$0.24 to S$27.34, whileOCBC : O39 +0.17%increased 0.5 per cent or S$0.06 to S$11.44.

Other active index counters includedAscendas Real Estate Investment Trust : A17U -0.34%which rose 1.1 per cent or S$0.03 to S$2.90, andCapitaLand Investment : 9CI +2.08%which gained 1.1 per cent or S$0.04 to S$3.86.

US  stocks

In the US, stocks finished higher for thethird straight session on Thursdayafter Tesla posted better-than-expected profits. The US dollar also retreated.

The tech-rich Nasdaq Composite Index led gains, ending the session 1.4 per cent higher at 12,059.61. The Dow Jones Industrial Average rose 0.5 per cent to close at 32,036.90, while the broad-based S&P 500 advanced 1 per cent to 3,999.00.

Europe’s Stoxx 600 share index was alsobolstered by upbeat company earnings on Thursday, although gains were limited as investors digested the ECB’s bigger-than-expected interest rate hike.

Elsewhere in Asia,Tokyo stocks opened loweramid market uncertainty. The benchmark Nikkei 225 index slipped 0.3 per cent to 27,718.70 in early trade, while the broader Topix index fell 0.3 per cent to 1,945.55.

source:businesstimes