Singapore shares open higher after strong showing in US

THE Singapore market opened 0.32 per cent higher on Wednesday, after strong gains in the US markets and a rebound in Europe stocks overnight following positive corporate earnings.

The Straits Times Index gained 10.59 points to 3,291.68 as at 9.03am.

Some 90.2 million shares worth S$223.7 million changed hands, with gainers outnumbering losers 98 to 48. The most actively traded stocks by value were Singtel, CapitaLand and DBS, which all gained, while Keppel Corp slipped nine cents to S$7.86.

Traders are awaiting a policy announcement when the US Federal Reserve meets on Wednesday, which could signal the timing of an interest rate increase later this year.