SINGAPORE shares edged higher when trading began on Thursday, with the Straits Times Index gaining 3.71 points, or 0.1 per cent to 3,371.51 as at 9.03am.
This comes after Wall Street stocks closed at record highs overnight as a slew of mixed US economic data raised expectations of a Federal Reserve interest rate cut at its next meeting at the end of the month. All three major US indices hit new highs - the Dow added 0.7 per cent to 26,961.52 by the closing bell, the S&P 500 gained 0.8 per cent to 2,995.53, and the tech-rich Nasdaq Composite Index advanced 0.8 per cent to 8,170.23. US markets closed early in anticipation of Thursday's Independence Day holiday and will reopen on Friday.
On the Singapore bourse, advancers edged out decliners 83 to 24, after about 90.1 million securities worth S$78.3 million changed hands.Among the most heavily traded counters by volume, Addvalue Tech gained 21.7 per cent, or 0.5 Singapore cent to 2.8 cents, with 14.1 million shares traded, and SunMoonFood was up 15.7 per cent, or 0.8 cent to 5.9 cents, with 8.9 million shares traded.
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