Singapore stocks start Tuesday stronger; STI up 0.6%

Singapore stocks booked gains on Tuesday (Nov 1) morning, even as Wall Street ended its six-day winning streak.

As at 9.02 am, the Straits Times Index (STI) rose by 0.6 per cent or 19.74 points to 3,112.85. 

Gainers outnumbered losers 75 to 40 after 34.2 million securities worth S$51.6 million changed hands.

Golden Agri-Resources was the most actively-traded counter by volume, with 7.2 million shares transacted. The counter rose 1.7 per cent or S$0.005 to S$0.295.

Digital Core Reit also saw significant trading activity at the open, gaining 1 per cent or US$0.005 to US$0.505 as 4.2 million of its shares changed hands.

Meanwhile, Sembcorp Marine rose 0.8 per cent or S$0.001 to S$0.128, with 2.9 million shares traded.

The trio of local banks also opened in the green, led by UOB, which climbed 1.2 per cent or S$0.34 to S$28.10. DBS rose 0.9 per cent or S$0.32 to S$34.52, while OCBC gained 0.5 per cent or S$0.06 to S$12.19.

In the US, Wall Street stocks fell on Monday, snapping the Dow's winning streak, following disappointing Chinese and European data as markets look ahead to a key US Federal Reserve decision.

The broad-based S&P 500 shed 0.8 per cent to 3,871.98, while the tech-rich Nasdaq Composite Index fell 1 per cent to 10,988.15.

Over in Europe, stocks marked their first monthly gain in three on Monday, buoyed by a better-than-expected earnings season and hopes that the US Federal Reserve would slow its pace of interest rate hikes.

The pan-European Stoxx 600 index rose 0.4 per cent to close at a more than six-week high, having recouped early losses following data showing record-high inflation in the eurozone.

Elsewhere in Asia, Tokyo markets opened higher on Tuesday, shrugging off US falls, as investors awaited earnings reports by major Japanese firms.

The benchmark Nikkei 225 index was up 0.1 per cent or 36.14 points at 27,623.60 in early trade, while the broader Topix index added 0.2 per cent or 4.23 points to 1,933.64.

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