Singapore stocks open higher on Wednesday; STI up 0.1%
Yong Hui Ting
SINGAPORE shares rose on Wednesday (Apr 19) following an upbeat session on the European market.
The Straits Times Index (STI) was up 0.1 per cent or 1.87 points to 3,311.43 as at 9.02 am. Losers outnumbered gainers 59 to 44, after 53 million securities worth S$46.1 million changed hands.
The most active counter by volume was Keppel Infrastructure Trust , which fell 3.9 per cent or S$0.02 to S$0.495 with 11.2 million shares traded.
This comes after the trust announced on Wednesday morning that it has closed its private placement exercise at S$0.477 apiece. The Reit expects to raise approximately S$183 million when the placement exercise is complete. Proceeds raised will be used for partial repayment of bridge facilities, as well as to pay for fees and expenses incurred from the exercise.
Other heavily traded securities included index-listed Mapletree Logisitics Trust , which was down 0.6 per cent or S$0.01 to S$1.76, with 1.5 million shares traded, as well as construction group Wee Hur , which fell 5.2 per cent or S$0.01 to S$0.184, with 1.5 million shares traded.
Banking stocks rose in early morning trade. UOB was up 0.1 per cent or S$0.03 to S$29.88, and OCBC gained 0.2 per cent or S$0.03 to S$12.81. DBS was trading unchanged at S$32.75.
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Wall Street stocks finished little changed on Tuesday, following a flattish day of mixed bank earnings and good Chinese economic data.
The Dow Jones Industrial Average ended down less than 0.1 per cent to 33,976.63. The broad-based S&P 500 added 0.1 per cent at 4,154.87, while the tech-rich Nasdaq Composite Index slipped less than 0.1 per cent at 12,153.41.
European shares closed higher on Tuesday as travel and leisure stocks led the advance on positive earnings. Better-than-expected economic data from China also boosted demand prospects and lifted shares of miners and luxury firms.
The pan-European Stoxx 600 index ended 0.4 per cent higher, holding at more than one-year highs.
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