Singapore stocks rise at Tuesday’s open; STI up 0.1%

SINGAPORE stocks rose in early trade on Tuesday (Nov 8), mirroring Wall Street gains. 

The Straits Times Index (STI) rose 0.1 per cent or 4.32 points to 3,145.63 as at 9.01 am.

Gainers outnumbered losers 68 to 32 after 36.5 million securities worth S$37.7 million changed hands.

Sembcorp Marine was the most actively traded counter by volume, with 8.7 million shares changing hands as at 9.01 am. Shares rose 0.7 per cent or S$0.001 to S$0.137.

MarcoPolo Marine was also among the top three gainers on Tuesday morning, with 5 million shares transacted as at 9.01 am. The counter rose by 5.1 per cent or S$0.002 to S$0.041.

Units of CapitaLand Integrated Commercial Trust fell in early trade by 0.5 per cent or S$0.01 to S$1.87. The trust recently reported operational growth in its third quarter.

The trio of local banks were trading higher on Tuesday morning, with DBS up 0.4 per cent or S$0.13 at S$34.56. UOB rose by 0.6 per cent or S$0.18 to S$28.68, while OCBC stood 0.08 per cent or S$0.01 higher at S$12.13.

In the US, Wall Street stocks rose for a second straight session on Monday as the dollar retreated and markets began to look past midterm US elections. This week also sees the release of consumer price data on Thursday, which will be a key test of whether the Federal Reserve’s interest rate hikes have made a dent in inflation.

The Dow Jones Industrial Average gained 1.3 per cent to finish at 32,827.00.

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The broad-based S&P 500 advanced 1 per cent to 3,806.80, while the tech-heavy Nasdaq Composite Index rose 0.9 per cent to 10,564.52.

European shares closed on Monday at a more than seven-week high as a jump in travel and technology stocks helped outweigh a drag from China-exposed luxury giants.

The benchmark Stoxx 600 index rose 0.3 per cent, extending gains after its third straight weekly rise.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday, tracking Wall Street gains.

The benchmark Nikkei 225 index was up 0.7 per cent, or 194.51 points, at 27,722.15 in early trade, while the broader Topix index rose 0.6 per cent, or 12.21 points, to 1,946.30.