Singapore shares rise at open as restrictions ease for vaccinated persons; STI up 0.6%

SINGAPORE stocks opened higher on Tuesday following a public holiday on Monday, amid gains in other Asian markets.

Tuesday is also the first day of a "vaccination-differentiated" strategy when activities such as dining-in will be allowed for vaccinated people in up to groups of five.

Other restrictions for higher-risk activities including high-intensity sports with masks off, personal care services, and larger events like marriage and solemnisation and worship services, will also be eased for vaccinated persons.

On the Singapore bourse, the Straits Times Index rose 0.6 per cent or 20.36 points to 3,197.54 as at 9.05am.

Gainers outnumbered losers 150 to 63, or about two securities up for every one down, after 161.1 million securities worth S$142.9 million changed hands.

The most active counter by volume was C8R , which gained 5.4 per cent or 0.5 Singapore cent to 9.7 cents, with 26.7 million shares changing hands.

Other heavily traded securities included Z74 , which was up 1.3 per cent or S$0.03 to S$2.31, with 11.4 million shares traded.

T24 advanced 1.8 per cent or one Singapore cent to 55.5 cents, with 6.1 million shares traded. The real estate player on Friday posted a net profit of S$100.7 million for its first half, some 15 times that of the S$6.6 million posted the year prior, on the back of topline gains across all business segments.

Banking stocks rose in early morning trade. D05 was trading up 1.3 per cent or S$0.41 at S$31.41, U11 was up 1.1 per cent or S$0.28 to S$26.91, while O39 gained 0.3 per cent or S$0.04 to S$12.46.

Other active index counters included C52 which was up 0.6 per cent or S$0.01 to S$1.60 and C6L , which was up 0.6 per cent or S$0.03 to S$5.11.

In the US, major stock indices retreated from records Monday as investors weighed progress on US infrastructure legislation against concerns about the latest Covid-19 wave.

The Dow Jones Industrial Average dropped 0.3 per cent to 35,101.85, while the broad-based S&P 500 dipped 0.1 per cent to 4,432.35, after both closed at records on Friday.

European stocks reached a record high. The pan-European Stoxx 600 index rose 0.2 per cent to a closing high of 470.68 points, powered by rises in the defensive sectors of utilities and healthcare.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday. The benchmark Nikkei 225 index was up 0.3 per cent or 91.39 points at 27,911.43 in early trade, while the broader Topix index gained 0.3 per cent or 6.05 points to 1,935.39.