Singapore shares climb at Wednesday’s open amid factory output growth
Singapore stocks advanced at the opening bell on Wednesday (Mar 27) morning, following higher-than-expected growth in the city-state’s February factory output.
Data released by the Economic Development Board on Tuesday showed that Singapore’s factory output grew 3.8 per cent in February, exceeding private-sector economist estimates of 0.5 per cent.
$FTSE Singapore Straits Time Index(.STI.SG$ gained 15.37 points or 0.5 per cent to 3,248.70. Across the broader market, gainers outnumbered losers 73 to 37 after 34.8 million securities worth S$50.4 million changed hands.
$海庭(S51.SG$ was the most heavily traded counter by volume. It rose 1.2 per cent or S$0.001 to S$0.082 after five million securities were transacted.
Other companies that were briskly transacted included $G Invacom - watch list(QS9.SG$ which was up S$0.002 or 3.7 per cent at S$0.056, and $ThaiBev(Y92.SG$ which remained unchanged at S$0.485.
Over on Wall Street, US stocks slid on Tuesday following the release of vapid consumer data by The Conference Board which revealed a slight dip in US consumer confidence in March. $Dow Jones Industrial Average(.DJI.US$ shed 0.1 per cent to 39,282.33, and the broad-based $S&P 500 Index(.SPX.US$ declined 0.3 per cent to 5,203.58. The tech-heavy $Nasdaq Composite Index(.IXIC.US$ sank 0.4 per cent to 16,315.70.
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