Singapore shares climb at Tuesday’s open after Wall Street rebound; STI up 0.3%

SINGAPORE shares were pulled into positive territory Tuesday (Sep 20), tracking a rebound in the US after stocks took a beating last week.

Singapore's Straits Times Index advanced 0.3 per cent or 9.5 points to 3,265.81 as at 9.02 am. Gainers outnumbered losers 78 to 17, after 20.9 million securities worth S$36.8 million changed hands.

One of the most active counters by volume was Singtel, which dropped 0.4 per cent or S$0.01 to S$2.68, with 1.5 million shares changing hands.

Other heavily traded securities included Mapletree Pan Asia Commercial Trust, which gained 0.5 per cent or S$0.01 to S$1.90, with 1.2 million shares traded, and CapitaLand Integrated Commercial Trust, which remained unchanged at S$2.08, with 913,800 shares traded.

Banking stocks rose in early morning trade. DBS was up 0.7 per cent or S$0.22 to S$33.62, UOB advanced 0.4 per cent or S$0.11 to S$27.35, while OCBC increased 0.4 per cent or S$0.05 to S$12.35.

Other active index counters included Singapore Airlines, which was up 0.2 per cent or S$0.01 to S$5.32 and the Singapore Exchange, which climbed 0.5 per cent or S$0.05 to S$9.57.

US stocks closed higher Monday on the back of a technical rebound and bargain-hunting after tumbling last week.

The Dow Jones industrial average advanced 0.6 per cent, the tech-rich Nasdaq rose 0.8 per cent, while the S&P 500 ended 0.7 per cent higher. All 3 indices opened in the red on Monday morning before closing higher.

European shares meanwhile, saw a volatile session on Monday, trading lower for most of the day before ending nearly flat. The pan-European Stoxx 600 index lost up to 1 per cent during the session but gained about 0.2 per cent in the last hour before ending 0.09 per cent lower.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday, extending rallies on Wall Street. The Nikkei 225 index was up 0.8 per cent to 27,790.50 in early trade, while the broader Topix index gained 0.6 per cent to 1,950.84.

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