Singapore stocks rise at Friday's open; STI up 0.1%

SINGAPORE shares rose in early trade on Friday (Dec 31) despite US markets closing lower overnight.

The Straits Times Index (STI) moved up 0.1 per cent or 3.68 points to 3,130.32 as at 9.04 am.

Gainers outnumbered losers 66 to 37, after 37 million securities worth S$24.6 million changed hands.

The most active counter by volume was property developer OKH Global S3N , which was up 6.9 per cent or S$0.002 at S$0.031, after 4.1 million shares were traded.

Another property developer, Hatten Land PH0 , was also actively traded at the open, down 1.9 per cent or S$0.001 at S$0.051, with 3.2 million shares changing hands.

Index counter ComfortDelGro C52 was among the most actively traded securities on Friday morning, with about 1.5 million shares changing hands. The counter opened higher at S$1.41, up 0.7 per cent or S$0.01.

The trio of local banks all rose at the open.

As at 9.04 am, DBS D05 was up S$0.05 or 0.2 per cent at S$32.71, while UOB U11 was up S$0.05 or 0.2 per cent to S$27.05. OCBC O39 ga ined S$0.01 or 0.1 per cent to S$11.39.

Over on Wall Street, US stocks closed lower on Thursday (Dec 30), retreating late in thin holiday volume from record highs set early in the session on strong US data including a drop in weekly claims for US unemployment benefits.

The Dow Jones Industrial Average fell 90.55 points or 0.3 per cent to 36,398.08, the broad-based S&P 500 lost 14.33 points or 0.3 per cent to 4,778.73 and the tech-rich Nasdaq Composite dropped 24.65 points or 0.2 per cent to 15,741.56.

Meanwhile, European stocks ended higher on hopes fresh curbs and restrictions may not be needed to fight the pandemic going into the new year.

The pan-European Stoxx 600 rose 0.3 per cent, up for the second straight week with the tech sector, healthcare and travel stocks, in the lead.

Financial markets in Japan took a holiday on Friday (Dec 31). Trading resumes on Jan 4 there.