Singapore shares gain at Tuesday’s open; STI up 0.3%

SINGAPORE stocks opened stronger on Tuesday (Nov 14), as the earnings season approaches an end.

The Straits Times Index (STI) rose 0.3 per cent or 8.29 points to 3,114.97 as at 9.03 am. Across the broader market, gainers outnumbered losers 114 to 70 after 93.9 million securities worth S$87.5 million changed hands.

The most active counter by volume was Seatrium , which gained 0.9 per cent or S$0.001 to S$0.109 after 21.8 million shares were traded. It was followed by Genting Singapore , which rose 5.3 per cent or S$0.045 to S$0.895 with 10.8 million shares transacted, following its impressive earnings reported on Friday.

Other heavily traded securities included Thai Beverage , which lost 0.9 per cent or S$0.005 to S$0.525 after 3.9 million shares changed hands.

Banking stocks traded mixed on Tuesday morning. DBS lost 0.9 per cent or S$0.30 to S$32.87, while UOB slipped 0.04 per cent or S$0.01 to S$27.39. OCBC edged up 0.2 per cent or S$0.02 to S$12.99.

US indices closed mixed on Monday, as investors shook off a warning over the country’s credit rating and await key inflation data to be released. The Dow Jones Industrial Average was the only major index on Wall Street to increase, ticking up 0.2 per cent to 34,337.87. The broad-based S&P 500 Index slipped 0.1 per cent to 4,411.55, while the tech-rich Nasdaq Composite Index fell 0.2 per cent to 13,767.74.

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In Europe, gains were registered in a broad-based rally as traders await more economic data for outlook clarity amid central banks’ push to tighten monetary policy. The pan-European Stoxx 600 closed Monday 0.8 per cent higher at 446.62, after clocking its steepest single-day decline in three weeks on Friday, with a drop of 1 per cent.