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Singapore shares open higher on Monday after Wall Street rally

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SINGAPORE share prices opened higher on Monday with the Straits Times Index up by 34.75 points or 1.22 per cent to 2,881.79 points as at 9.01am, following a Wall Street rally on Friday.

US stocks rallied on Friday after the June jobs report report came in much better than expected. Dow Jones Industrial Average recovered all the ground it lost during the Brexit selloff, gaining 247.41 points or 1.38 per cent to 18,143.29. The S&P 500 gained 31.24 points or 1.49 per cent to 2,129.14, above its record closing high of 2,130.82. Major S&P indices were higher, led by gains in materials and industrials.

Some 74.6 million shares worth S$81.9 million changed hands, with gainers outnumbering losers 109 to 25.