Singapore shares open higher on Tuesday; STI up 0.2%

SINGAPORE shares started trading in positive territory on Tuesday (Sep 3) despite the European market ending little changed the previous day.

As at 9.02 am, the Straits Times Index (STI) opened 0.2 per cent or 5.76 points higher at 3,468.84. Across the broader market, gainers outnumbered losers 61 to 35 after 32.7 million securities worth S$42.2 million changed hands.

The most actively traded counter by volume was Suntec Real Estate Investment Trust (Reit), which lost 1.6 per cent or S$0.02 to S$1.21, with 3.3 million units changing hands.

Other heavily traded securities included Genting Singapore , which gained 0.6 per cent or S$0.005 to S$0.825. Meanwhile, CapitaLand Ascendas Reit fell 1 per cent or S$0.03 to S$2.85.

Banking stocks were up at the open. DBS rose 0.4 per cent or S$0.16 to S$36.96, OCBC inched up 0.2 per cent or S$0.03 to S$14.69, and UOB increased 0.4 per cent or S$0.11 to S$31.69.

In Europe, shares were little changed on Monday as investors analysed economic data for clues on the European central bank’s policy trajectory. The pan-European Stoxx 600 index was little moved at 524.94, still hovering around its record highs touched last week.

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US markets were closed on Monday for the Labour Day holiday.