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Singapore shares open higher on Monday despite US stock losses on Friday

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SINGAPORE share prices opened higher on Monday with the Straits Times Index up by 11.42 points or 0.41 per cent to 2,820.65 points as at 9.01am, despite US stock losses on Friday following reported poor jobs growth.

The Dow Jones Industrial Average lost 31.5 points to close at 17,807.06 on Friday.

US non-farm payrolls report revealed 38,000 jobs were added in May, the smallest monthly gain in more than five years, which dimmed expectations for a June rate hike from the US Federal Reserve.

Some 78.4 million shares worth S$65.8 million changed hands, with gainers outnumbering losers 86 to 56.