Singapore shares open higher on Monday; STI up 0.5%
Michelle Zhu
SINGAPORE stocks started the week on a positive note after Wall Street ended its last trading session higher.
As at 9.01 am on Monday (Aug 28) the Straits Times Index (STI) rose 17.21 points or 0.5 per cent to 3,207.09. Across the broader market, gainers outnumbered losers 85 to 32 after 58.1 million securities worth S$34.2 million changed hands.
The most actively traded counter by volume was Seatrium , which rose S$0.001 or 0.7 per cent to S$0.143 with 27.7 million shares transacted.
Thai Beverage , another index counter, was trading S$0.005 or 0.9 per cent higher at S$0.575 amid brisk trading as well.
Following the release of its full year results in the morning, building maintenance company ISOTeam added S$0.002 or 4.4 per cent to reach S$0.047.
The trio of local banks were all trending higher in early trade. DBS rose S$0.27 or 0.8 per cent to S$33.17. UOB advanced S$0.19 or 0.7 per cent to S$28.27, and OCBC climbed S$0.08 or 0.7 per cent to S$12.44.
US equities concluded a volatile session higher on Friday as investors digested comments from Fed chair Jerome Powell that the US central bank may need to raise interest rates further to ensure inflation is contained.
The S&P 500 was up 29.01 points, or 0.7 per cent, to 4,405.32. The Nasdaq Composite gained 125.16 points or 0.9 per cent to 13,589.13, while the Dow Jones Industrial Average rose 244.58 points or 0.7 per cent to 34,344.00.
In Europe, shares lost their initial momentum on Friday to close little changed after rising as much as 0.7 per cent intraday, led by declines in technology and financials.
The Stoxx 600 ended marginally lower at 451.39, down 0.18 point or 0.04 per cent.
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