SINGAPORE: Singapore’s stock market opened strongly on Friday, August 16, driven by an unexpected surge in July’s export numbers, which outperformed market predictions by increasing 15.7%. This uplift in exports significantly boosted investor confidence.

By 9:01 am, the Straits Times Index (STI) had risen by 31.72 points, or 1%, to reach 3,347.45, according to data from The Business Times.

Across the broader market, gainers outpaced losers, with 102 stocks in positive territory while only 41 saw declines. Approximately 50.6 million securities were traded, amounting to a total value of S$84.6 million.

Among the most actively traded stocks was Genting Singapore, with 9.8 million shares changing hands, though its price dipped slightly by S$0.005, or 0.6%, to S$0.825. In contrast, Thai Beverage saw a modest rise of S$0.005, or 1.1%, pushing its share price to S$0.48. Singtel, however, experienced a decline, falling by S$0.05, or 1.7%, to S$2.97.

The banking sector showed strong performance, with DBS leading the gains. Its shares increased by S$0.85, or 2.5%, to S$35.61. UOB followed suit, rising by S$0.35, or 1.2%, to S$30.38, while OCBC advanced by S$0.14, or 1%, to S$14.16.

On the global front, Wall Street closed on an upswing on Thursday, with all major US indices rising thanks to positive consumer data. The Dow Jones Industrial Average climbed by 1.4% to 40,563.06, while the S&P 500 gained 1.6% to 5,543.22, and the Nasdaq surged by 2.3% to 17,594.5.

In Europe, stronger-than-expected US retail sales sparked a rally in technology and bank stocks. The pan-European Stoxx 600 index reversed its earlier losses and ended the day up by 1.2%, closing at 509.88.

This improved version refines the flow of information and clarifies the connection between export data and market performance while maintaining key details and improving readability.