Singapore equities opened firmer on Tuesday, tracking Wall Street’s rebound in technology and semiconductor stocks after investors returned to the sector following last week’s sharp sell-off.
The benchmark Straits Times Index (STI) rose 26.37 points, or 0.53%, to 4,990.04 as at 9.21am, putting the index within touching distance of the 5,000-point level.
Market breadth was positive, with 139 gainers outpacing 126 decliners, while total trading volume stood at 144.31 million shares worth S$265.27 million.
The stronger opening followed a recovery on Wall Street overnight, where the Nasdaq Composite gained 0.86% and the S&P 500 rose 0.30% as technology and semiconductor counters bounced back from Friday’s rout. Investor sentiment was also supported by easing geopolitical tensions after Iran and Israel reportedly halted attacks on each other.
Among actively watched Singapore stocks, DBS Group Holdings climbed 1.28% to S$63.56, helping support the broader market. Singtel traded at S$4.19, while OCBC Bank stood at S$23.68 and UOB at S$38.19.
Technology-linked counters also remained in focus after the Philadelphia Semiconductor Index surged 5.6% overnight, recovering part of the losses suffered during last week’s sell-off triggered by concerns over stretched valuations in artificial intelligence-related stocks.
In the derivatives market, FTSE China A50 Index Futures for June traded at 15,205 points with volume of 4,145 contracts as at 9.09am. Nikkei 225 Index Futures stood at 64,070 points, while SGX FTSE Taiwan Index Futures traded at 3,810 points.
Investors are now turning their attention to upcoming US inflation data and a series of major AI-related listings expected this week, including the anticipated debut of SpaceX, which could influence broader market sentiment across Asia.
