Singapore: Shares open higher after Wall Street surges

SINGAPORE share prices opened higher on Friday with the Straits Times Index up 0.01 point to 3,373.61 points at 9.11am.

This was on the back of Wall Street stocks snapping a two-day losing streak. Wall Street stocks surged after big US banks cleared Federal Reserve stress tests and the dollar retreated from a 12-year high.

The Dow Jones Industrial Average surged 259.83 points (1.47 per cent) to 17,895.22. The broad-based S&P 500 jumped 25.71 (1.26 per cent) to 2,065.95, while the tech-rich Nasdaq Composite Index rose 43.35 (0.89 per cent) to 4,893.29.