Singapore shares open 0.5% up on Monday

SINGAPORE stocks opened 0.5 per cent higher on Monday, with the Straits Times Index rising 13.89 points to 2,883.36 as at 9.02am.

The blue-chip index was boosted by better sentiment in Asia after reports that German bank giant Deutsche Bank might pay less in a US settlement than initially thought.

About 56.4 million shares worth S$39.7 million in total changed hands, which worked out to an average unit price of S$0.70 per share.

Gainers outnumbered losers 97 to 30, or about three up for every one down.

Top stocks by value traded were Singtel, OCBC, KSH, UOB and Venture.