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Singapore shares open higher on Wednesday

Wednesday, December 28, 2016 - 09:21

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SINGAPORE shares opened higher on Wednesday with the Straits Times Index up 2.29 points, or 0.08 per cent, to 2,888.05 at 9.05 am.

Some 40 million shares worth S$27.5 million changed hands with gainers outnumbering losers 64 to 40.

This follows a bullish day on Wall Street where US stocks traded near a record high amid thin trading as oil posted its longest winning streak in four months.

Treasuries fell amid soft demand in an auction of two-year notes, Bloomberg reported.

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Crude climbed for a seventh day as the market anticipates that output cuts from the Organization of the Petroleum Exporting Countries (Opec) and non-Opec producers will help speed the elimination of a supply glut.

The Dow Jones Industrial Average rose 0.06 per cent, or 11.23 points, to end at 19,945.04, boosted by a 0.6 per cent gain in Apple Inc. However, the 20,000 milestone remained elusive, despite climbing within 20 points of the psychological level, only to give up most of the day's gains.

The S&P 500 advanced 5.09 points, or 0.22 per cent, to 2,268.88.

The Nasdaq Composite Index added 24.75 points to settle at 5,487.44, a gain of 0.45 per cent, to end at a record close. The Nasdaq also struck a new intraday record of 5,512.37.

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