SINGAPORE: Singapore stocks traded higher on Tuesday, Jan 28, with the Straits Times Index (STI) gaining 0.8% or 31.05 points to 3,827.76 at 9:01 am, as reported by The Business Times.
In the broader market, 67 stocks gained while 30 declined, with 30.8 million securities valued at S$85.7 million traded.
Singtel led in trading volume, rising 0.9% or S$0.03 to S$3.23, with 2.9 million shares traded. CapitaLand Ascendas Reit advanced 2% or S$0.05 to reach S$2.61, while CapitaLand Integrated Commercial Trust gained 1.6% or S$0.03 to S$1.96.
Local banks also performed well at the open. DBS rose 0.6%, adding S$0.28 to S$43.88. UOB gained 0.9% or S$0.33 to S$37.35. OCBC shares climbed 1.2% or S$0.21 to S$17.30.
On Monday, Wall Street saw mixed results, with the S&P 500 and Nasdaq falling sharply. Artificial Intelligence (AI) chipmakers like Nvidia faced sell-offs as the growing popularity of a low-cost Chinese AI model, DeepSeek, raised concerns about the future of leading US AI firms.
The Dow Jones Industrial Average rose 0.7% or 289.33 points to 44,713.58. However, the S&P 500 dropped 1.5% or 88.96 points to 6,012.28, while the Nasdaq Composite Index retreated 3.1% or 612.47 points to 19,341.83.
In Europe, shares also slipped due to concerns over AI investments and tech sector valuations. The pan-European Stoxx 600 inched down 0.1% earlier in the session and ended at 529.69 points. /TISG
Read also: Singapore stocks traded lower on Monday’s open—STI dropped 0.3%
Featured image by Depositphotos (for illustration purposes only)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.