Singapore shares rise marginally at Tuesday’s open; STI up 0.1%

SINGAPORE stocks started Tuesday (Jul 26) with some positive momentum amid a busy week of corporate earnings in the US, and ahead of a looming interest rate decision from the Federal Reserve.

The Straits Times Index (STI) gained 3.13 points or 0.1 per cent to 3,183.60 as at 9.02 am.

Decliners outnumbered advancers 58 to 42 after 30.7 million securities worth S$31.3 million changed hands.

Tritech was among the most actively traded securities on Tuesday morning. The Catalist-listed water and environment company shed S$0.001 or 3 per cent to S$0.032 after 2.5 million shares changed hands at the open.

Ley Choon , also listed on the Catalist board, rose S$0.002 or 13.3 per cent to reach S$0.017 with some 1.5 million shares traded.

Index counter Mapletree Logistics Trust was also actively traded with 1.3 million units transacting at the open, gaining S$0.02 or 1.2 per cent to S$1.76.

The trio of local banks were mixed in early trade. DBS slipped S$0.08 or 0.3 per cent to S$31.18, while UOB was up S$0.05 or 0.2 per cent at S$27.55. OCBC rose S$0.04 or 0.4 per cent to S$11.54.

Over on Wall Street, investors pulled back on tech shares on Monday ahead of a deluge of market-moving central bank and corporate announcements in the coming days.

The tech-rich Nasdaq Composite Index dropped 0.4 per cent to 11,782.67. The broad-based S&P 500 won 0.1 per cent to 3,966.84, while the Dow Jones Industrial Average ended up 0.3 per cent at 31,990.04.

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European shares concluded a choppy session generally higher on Monday after data showed that Britain’s industrial output slowed, but that there were tentative signs of price pressures coming off their peak.

The Stoxx 600 closed 0.1 per cent higher at 426.25, while the benchmark FTSE 100 index reversed early losses to close up 0.4 per cent.

Elsewhere in Asia, Tokyo’s key Nikkei index zigzagged between positive and negative territory at the open on Tuesday to edge up 0.01 per cent or 3.58 points to 27,702.83 in early trade. The broader Topix index inched up 0.09 per cent or 1.82 points to 1,945.03.