Singapore stocks opened little changed on June 2, with investors adopting a cautious stance following the long weekend despite record highs on Wall Street driven by renewed optimism surrounding artificial intelligence (AI).
As at 9.03am, the benchmark Straits Times Index (STI) slipped 1.29 points, or 0.03%, to 5,036.57, easing slightly from its May 29 close of 5,037.86.
The muted start comes after US equities ended higher overnight, with the S&P 500 and Nasdaq Composite reaching fresh record highs as technology stocks rallied on strong AI-related developments.
Market participants are expected to keep a close watch on global economic data and geopolitical developments this week, particularly developments in the Middle East and the upcoming US jobs report, which could provide further clues on the interest rate outlook.
Despite the softer opening, the STI remains comfortably above the key 5,000-point level, reflecting underlying resilience in Singapore equities amid a mixed global market backdrop.
