Singapore stocks rise at Tuesday's open; STI up 0.8%

SINGAPORE stocks opened higher on Tuesday morning, following the record close of the Dow over on Wall Street.

The Straits Times Index (STI) rose 0.8 per cent or 24.94 points to 3,200.51 as at 9.01am.

Gainers outnumbered losers 100 to 33 after 80.2 million securities worth S$105.8 million changed hands.

Telecommunication service provider Ntegrator International shares were the most actively traded securities by volume, with 8.1 million shares being traded within the first three minutes of the open. The counter rose 9.1 per cent or 0.1 Singapore cent to 1.2 cents.

Sembcorp Marine shares were also among the most actively traded as at 9.03am. The counter rose 1.9 per cent or 0.3 Singapore cent to 16.4 cents.

Among index counters, Keppel Corporation was the top gainer, rising 2.1 per cent or S$0.11 to S$5.38 as at 9.05am. On the other hand, ComfortDelGro was the top loser as it fell 0.6 per cent or S$0.01 to S$1.73.

The trio of local banks were trading higher on Tuesday morning. DBS was up 0.5 per cent or S$0.13 to S$28.95. UOB rose 0.2 per cent or S$0.04 to S$25.93 and OCBC inched up 0.6 per cent or S$0.07 to S$11.89 as at 9.05am.

Over on Wall Street, markets closed lower on Monday as investors assessed warnings from large banks over losses connected to US fund Archegos Capital Management, while continuing to shift away from tech names.

The Dow Jones Industrial Average climbed 0.3 per cent to 31,171.37, a fresh all-time record. The broad-based S&P 500 dipped 0.1 per cent to 3,971.09, while the tech-rich Nasdaq Composite Index dropped 0.6 per cent to 13,059.65.

European shares edged higher at market close, in contrast to the shifts on Wall Street. The pan-European Stoxx 600 index edged 0.2 per cent higher, with economy-linked mining, oil and gas, and travel and leisure shares among the biggest decliners .

Elsewhere in Asia, Tokyo stocks opened higher, mirroring the record finish on the Dow. The benchmark Nikkei 225 index gained 0.2 per cent, or 48.62 points, to 29,433.14 in early trade, while the broader Topix index fell 0.7 per cent, or 14.05 points, to 1,979.29.