Singapore shares open higher on Thursday; STI up 0.2%

SINGAPORE shares started the morning in positive territory on Thursday (Jul 20), following overnight gains in the US and Europe markets.

The Straits Index Index (STI) headed up 5.32 points or 0.2 per cent at 3,280.56 as at 9.02 am. Across the broader market, advancers outnumbered decliners 56 to 48 as 44.8 million securities worth S$47.4 million changed hands.

Index counter Seatrium was the most actively traded in terms of volume, remaining at S$0.142 after 19.8 million of its shares changed hands.

Shares of Genting Singapore , another STI constituent, also saw brisk activity, gaining 0.5 per cent or S$0.005 to S$0.945 at the open. Meanwhile, Thai Beverage held steady at S$0.59, with 2.6 million shares traded.

The trio of local banks were mixed in early trade. DBS was up 0.2 per cent or S$0.07 to S$32.81, UOB gained 0.4 per cent or S$0.12 to S$28.76, while OCBC fell 0.1 per cent or S$0.01 to S$12.66

Wall Street stocks ended slightly higher on Wednesday, with the Dow rising for an eighth straight day, extending a bullish run on better-than-expected economic figures in recent weeks.

SEE ALSO

Stocks to watch: Keppel, Sabana Reit

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

The Dow Jones Industrial Average ended the day up 0.3 per cent at 35,061.21, building on recent gains. The broad-based S&P 500 advanced 0.2 per cent to 4,565.72, while the tech-rich Nasdaq Composite Index was flat at 14,358.02.

Over in Europe, shares closed higher on Wednesday with UK stocks in the lead, after a faster-than-expected slowdown in British inflation helped to bolster hopes of peaking interest rates, and pushed homebuilders higher.

The pan-European Stoxx 600 index ended up 0.3 per cent at 461.97, extending gains to the second straight session.