Singapore shares edge up at Thursday’s open; STI up 0.1%

SINGAPORE stocks inched up at Thursday’s (Sep 28) open, following a mixed close in US and Europe markets overnight.

The Straits Times Index (STI) rose 0.1 per cent or 1.6 points to 3,201.63 as at 9.02 am. Across the broader market, gainers outnumbered losers 53 to 43, after 54.1 million securities worth S$48.4 million changed hands.

The most active counter by volume was Rex International , which climbed 4.7 per cent or S$0.009 to S$0.20, with 6.1 million shares traded.

Other heavily traded securities included Marco Polo Marine , which was flat at S$0.052 with 5.8 million shares transacted, as well as Seatrium , which gained 0.8 per cent or S$0.001 to S$0.132 with 5.5 million shares changing hands.

Banking stocks were mixed in early morning trade. UOB lost 0.6 per cent or S$0.18 to S$28.06, OCBC was down 0.1 per cent or S$0.01 at S$12.74, while DBS rose 0.2 per cent or S$0.08 to S$33.51.

In the US, stocks finished mixed on Wednesday as high oil prices and Treasury bond yield volatility impacted investor appetite. The Dow Jones Industrial Average slipped 0.2 per cent to 33,550.27, while the broad-based S&P 500 closed flat at 4,274.51. The tech-rich Nasdaq Composite Index, meanwhile, gained 0.3 per cent to 13,092.85.

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In Europe, shares fell for a fifth consecutive day on Wednesday after real estate stocks ended in the red. The pan-European Stoxx 600 index slid 0.2 per cent to close at 446.91, at a six-month low.