Singapore stocks open higher on Friday
Singapore shares rose on Friday (Apr 14) following the Monetary Authority of Singapore’s announcement on leaving monetary policy settings unchanged for the first time in over a year, contrary to market expectations of a tightening.
This also comes after the Ministry of Trade and Industry released advanced estimates showing that Singapore’s economy grew 0.1 per cent year-on-year in the first quarter of 2023, lower than the 2.1 per cent expansion in the previous quarter.
$FTSE Singapore Straits Time Index(.STI.SG$ was up 0.4 per cent or 14.62 points to 3,309.16. Across the broader market, gainers outnumbered losers 71 to 21, after 25.4 million securities worth S$28.1 million changed hands.
$Seatrium(S51.SG$ was the most active counter by volume with 30.5 million shares traded. The counter rose 0.8 per cent or S$0.001 to S$0.12.
Another heavily-traded counter was $AsiaPhos(5WV.SG$, which climbed 66.7 per cent, or S$0.006 to S$0.015.
Active index counters included $Singtel(Z74.SG$ , which rose 0.4 per cent or S$0.01 to S$2.52, and $ThaiBev(Y92.SG$ , which rose 0.8 per cent or S$0.005 to S$0.64.
In the US, all three major stock indices advanced on Thursday after new data showed that inflation is on a slowing trend:
The tech-rich $Nasdaq Composite Index(.IXIC.US$ led with a 2 per cent rise to 12,166.27. The broad-based $S&P 500 Index(.SPX.US$ climbed 1.3 per cent higher to 4,146.22, and $Dow Jones Industrial Average(.DJI.US$ ended 1.1 per cent higher at 34,029.69.
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Braight : Open higher except Singtel of course