Singapore shares open higher on Wednesday

SINGAPORE stocks opened higher on Wednesday, after Wall Street made gains on Tuesday on the back of cheap oil and speculation that the US Federal Reserve will take a dovish approach to future interest rate increases.

The benchmark Straits Times Index (STI) gained 33.91 points or 1.33 per cent to 2,579.52 by 9.03am. At that point, 41.6 million stocks worth S$76.8 million had changed hands. Gainers outnumbered losers 111 to 18.

Active stocks straight out the gate included DBS, Singtel, United Overseas Bank, Neptune Orient Lines and Keppel Corp.