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Singapore stocks trade higher on Monday

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SINGAPORE'S stock markets opened higher on Monday with the benchmark Straits Times Index up 23.15 points or 0.82 per cent at 2,851.32 by 9.04am. This followed gains from the US on Friday and Tokyo markets on Monday.

Tokyo stocks opened sharply higher on Monday following another record on Wall Street after traders welcomed strong US jobs data. The benchmark Nikkei 225 index rallied 1.28 per cent, or 207.84 points, to 16,462.29 in opening deals, while the broader Topix index of all first-section shares soared 1.23 per cent, or 15.71 points, to 1,295.61.

On Singapore's bourse, some 79.9 million shares worth S$81.9 million had changed hands by 9.04am, with gainers outnumbering losers 109 to 51.

The three local banks were among the highest value traded counters, with UOB up seven cents to S$18.00, DBS up seven cents to S$14.90, and OCBC up nine cents to S$8.40.