Singapore shares open 16 points up

SHARES on the Singapore bourse opened higher on Wednesday with the key Straits Times Index up 16.38 points at 2,836.62. Some 40 million shares worth S$56 million were done with 82 counters up and 39 down.

The early gains indicate that markets may be pricing in a victory for Hillary Clinton in the US elections as investors (and the rest of the world) stayed glued to their flickering screens eagerly awaiting some clear early signals on the US elections.

"It must be reminded that this is the session (for Asian markets) we should see the decision made for the next president of the United States," says IG Asia strategist Jingyi Pan.

"Markets could potentially play by the results as they roll in. We should have a clearer picture by mid-day here in Singapore," she added.

US equities closed higher overnight on Tuesday as investors waited anxiously - and eagerly - for the results of the US presidential election.

Initial results are trickling in while the earliest possible time that the US television networks are expected to "call" for either candidate is at about 12 noon. This is also the time polls close in California.