Singapore shares open 0.27% higher on Wednesday

SINGAPORE stocks opened higher on Wednesday following an overnight rise in the Dow Jones Industrial Average and expectations of possible oil deals.

The Straits Times Index went up by 7.56 points, or 0.27 per cent, to 2,805.11 as at 9.01am.

There were 83 losers to 39 gainers, with 49.5 million shares worth S$79.6 million changing hands.

Heavyweight gainers included all three Singapore banks, while Jardine Matheson and Jardine Strategic Holdings were major losers.

The Dow Jones Industrial Average closed on Tuesday 54 points, or 0.3 per cent, higher to 18,923. The blue-chip index has gained more than 3 per cent since the US presidential election.

Elsewhere, oil surged the most in seven months as Opec members were said to be making a final diplomatic push towards securing a deal to cut output, Bloomberg reported.