SINGAPORE shares were pulled into positive territory on Thursday (Jan 5) following overnight gains from major markets in the US and Europe.

The Straits Times Index (STI) rose 1.1 per cent or 36.6 points to 3,279.06 points while 213.1 million securities worth S$251.3 million changed hands as at 9.24 am. Gainers outnumbered losers 150 to 58.

Index counter Yangzijiang Shipbuilding : BS6 0% were among the top traded securities during early trade on Thursday. The STI constituent slipped 2.5 per cent or S$0.03 to S$1.17 as 5.9 million shares were traded as at 9 am.

Other briskly traded names this morning were Sembcorp Marine : S51 0%, which opened flat at S$0.132 while 4.5 million shares changed hands, Halcyon Agri : 5VJ 0%, opening unchanged at S$0.395 with 4.2 million shares traded and Asia-Pacific Strategic Investments : 5RA 0% (AP Strategic), starting the day at S$0.001 unchanged and three million shares changing hands.

AP Strategic earlier lifted its trading halt after announcing that its subsidiary was planning to dispose of its stake in a hotel management company, as well as a hotel and its related assets, for 80 million yuan (S$15.6 million).

Genting Singapore : G13 0% was also among the most heavily traded index stocks in the morning. Shares in Genting rose 1.1 per cent or S$0.01 to S$0.95 as 1.3 million shares changed hands.

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Meanwhile, the trio of local banks started the day in a sea of green. DBS : D05 0% gained 2.1 per cent or S$0.71 to S$34.73, UOB : U11 0% went up 1.1 per cent or S$0.32 to S$30.78, while OCBC : O39 0% grew 0.8 per cent or S$0.10 to S$12.39 as at 9.02 am.

US shares snapped a brief losing streak to close higher on Wednesday as markets shrugged off messaging from the Federal Reserve’s most recent meeting that stressed its commitment to lowering inflation.

The Dow Jones Industrial Average closed 0.4 percent higher at 33,269.77, Nasdaq Composite Index bounced 0.7 percent to 10,458.76, while the broad-based S&P 500 rose 0.8 percent to 3,852.97.

In Europe, shares closed higher for the third session in a row as lower inflation reading from France and better-than-expected business activity data boosted sentiment.

The pan-European Stoxx 600 closed 1.4 per cent higher, hovering at a three-week high.