Singapore shares open higher on Thursday; STI up 0.3%
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SINGAPORE shares began Thursday (Oct 24) trading in positive territory as overseas markets saw losses overnight.
As at 9.01 am, the Straits Times Index (STI) was up 0.3 per cent or 10.38 points at 3,611.16. Across the broader market, losers outnumbered gainers 53 to 37 after 50.1 million securities worth S$71.9 million changed hands.
Resort and casino operator Genting Singapore was the most actively traded counter by volume. It was trading down 0.6 per cent or S$0.005 at S$0.83 with 7.2 million securities changing hands.
Other actively traded counters included oil-and-gas contractor Dyna-Mac which traded flat at S$0.665 and precision engineering firm GSS Energy which traded down 13.8 per cent or S$0.004 at S$0.025.
Banking stocks were trading higher at open. DBS was up 0.7 per cent or S$0.27 at S$39.45. OCBC rose 0.3 per cent or S$0.05 to S$15.42 and UOB increased 0.1 per cent or S$0.02 to S$32.32.
Wall Street’s main indexes fell on Wednesday as US Federal Reserve concerns boosted Treasury yields, pressured megacap stocks and heightened losses of McDonald’s and Coca-Cola shares.
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The Dow Jones Industrial Average fell 1 per cent to 42,514.95, while the broad-based S&P 500 dropped 0.9 per cent to 5,797.42 and the tech-rich Nasdaq Composite slipped 1.6 per cent to 18,276.65.
European equities ended in the red as mining stocks led losses and heavyweights such as German lender Deutsche Bank and beauty giant L’Oreal clocked weak earnings. The pan-European Stoxx 600 index declined 0.3 per cent to 518.84.
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