Singapore stocks inch up 0.6% at Tuesday open
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Ry-Anne Lim
SINGAPORE stocks opened in positive territory on Tuesday (Oct 18), echoing gains booked by Wall Street overnight.
The Straits Times Index gained 0.6 per cent or 19.42 points to open at 3,035.17 as at 9.01 am. Gainers surpassed losers at 105 to 21, or about five securities up for every one down, after 35.1 million securities worth S$42.8 million changed hands.
One of the most active counters by volume was Sembcorp Marine , which rose 0.9 per cent or S$0.001 to S$0.118, after 9.1 million shares changed hands.
Other heavily-traded securities included Lippo Malls Indonesia Retail Trust , which slipped 6.5 per cent or S$0.002 to S$0.029, after 2.5 million shares changed hands; and Singtel , which increased 1.2 per cent or S$0.03 to S$2.50, after 1.4 million shares changed hands.
Banking stocks opened stronger at early trading. DBS rose 0.3 per cent or S$0.10 to S$32.52, while UOB hiked 0.5 per cent or S$0.14 to S$26.23. OCBC increased 0.9 per cent or S$0.10 to S$11.58.
Active index counters included Yangzijiang Shipbuilding , which rose 0.9 per cent or S$0.01 to S$1.15, and CapitaLand Investment , which gained 1.3 per cent or S$0.04 to S$3.25.
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In the US, Wall Street stocks scored solid gains on Monday, boosted by better-than-expected bank results that lifted hopes for earnings season.
The Dow Jones Industrial Average gained 1.9 per cent to 30,185.82. The broad-based S&P 500 jumped 2.7 per cent to 3,677.95, while the tech-rich Nasdaq Composite Index advanced 3.4 per cent to 10,675.80.
Meanwhile, European shares rallied as investors cheered the reversal of Britain’s fiscal plan that had sent jitters across the markets.
The region-wide Stoxx 600 index ended 1.8 per cent higher, extending gains for a third straight session.
Elsewhere in Asia, Tokyo markets opened higher on Tuesday as investors took heart from rallies on Wall Street on eased worries over corporate earnings.
The benchmark Nikkei 225 index was up 1.54 per cent or 413.56 points at 27,189.35 in early trade, while the broader Topix index was up 1.29 per cent or 24.25 points at 1,903.81.
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