Singapore stocks open higher; STI up 0.2%

SINGAPORE stocks opened higher on Monday (Sep 5) following mixed trading in the global markets. 

The Straits Times Index (STI) was up 0.2 per cent or 7.43 points to 3213.12 as at 9 am. Gainers outweighed losers 76 to 48 after 59.32 million securities worth S$45.09  million shares changed hands.

Hoe Leong was the most actively traded counter in the morning with 8.2 million shares transacted. The counter was unchanged at S$0.004. Among index counters, Singtel traded higher 0.8 per cent or S$0.02 at S$2.62 after 0.9 million shares were traded.

The trio of local banks traded mixed at Monday’s open. DBS was up 0.4 per cent or S$0.12 to S$32.55, UOB gained 0.4 per cent or S$0.11 to S$27.16, while OCBC was down 0.3 per cent or S$0.03 to S$11.95.   

Over in the US, Wall Street stocks ended the week with losses on Friday as an early-session rally fizzled following the release of government data indicating employers slowed the pace of hiring in August.

The Dow Jones Industrial Average ended 1.1 per cent lower at 31,318.44. The broad-based S&P 500 fell 1.1 per cent to 3,924.26, while the tech-rich Nasdaq Composite Index shed 1.3 per cent to 11,630.86.

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European stocks rose 2 per cent on Friday, clocking gains for the first time in 6 days after key US jobs data eased bets of a more aggressive Federal Reserve stance. Nonetheless, the pan-European Stoxx 600 ended up registering a weekly decline of 2 per cent, their third straight week of falls on concerns over a spike in energy prices.

Elsewhere in Asia, Tokyo stocks opened lower on Monday, extending falls on Wall Street, where sentiment worsened after Russia said it would keep a key gas pipeline to Germany turned off. 

The benchmark Nikkei 225 index was down 0.31 per cent, or 85.23 points, at 27,565.61 in early trade, while the broader Topix index slipped 0.29 per cent, or 5.65 points, to 1,924.52.