The Singapore Exchange opened firmer on Thursday, with the Straits Times Index (STI) rising 12.19 points or 0.28% to 4,358.65 at 9.11 am, supported by gains in banking heavyweights and improved regional sentiment.
Market breadth was positive, with 105 advancers outpacing 73 decliners, while total volume stood at 168.63 million units worth S$187.55 million.
Among the top traded counters, DBS edged up 0.22% to S$52.95, OCBC gained to S$16.93, UOB traded at S$35.53, Singtel held at S$4.36, and ST Engineering stood at S$8.09. Genting Singapore was flat at S$0.755, while Yangzijiang Shipbuilding traded at S$3.15.
The upbeat tone mirrored moves across the region as investors priced in growing expectations of a US Federal Reserve rate cut next week. Overnight, softer US producer price data fuelled optimism that inflationary pressures are easing, ahead of key consumer price data due later today.
Futures in Japan and Taiwan were mixed, with Nikkei 225 futures at 43,940 and Taiwan index futures at 2,099, while FTSE China A50 futures dipped slightly to 14,832. Wall Street closed higher overnight, adding further momentum to Asia’s morning trade.
Analysts noted that while regional markets are drawing strength from anticipated Fed policy easing, investor caution remains ahead of the Federal Open Market Committee decision next week.
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