Singapore shares open higher on Tuesday; STI up 0.3%

SINGAPORE stocks began Tuesday (Oct 1) trading in positive territory, as global equities ended mixed overnight.  

As at 9.02 am, the Straits Times Index (STI) rose 0.3 per cent or 10.82 points to 3,596.11. Across the broader market, gainers outnumbered losers 79 to 56 after 57.6 million securities worth S$88.1 million changed hands.

Chinese sweet potato biotech-focused value chain operator Zixin was the most actively traded counter by volume. It was up 6.9 per cent or S$0.002 at S$0.031 with 6.2 million securities changing hands.

Other actively traded counters included resort and casino operator Genting Singapore , which fell 0.6 per cent or S$0.005 to S$0.87 and timber processing group Samko Timber which gained 50 per cent or S$0.001 to S$0.003. 

Banking stocks were trading up at the open. UOB rose 0.6 per cent or S$0.18 to S$32.35, DBS climbed 0.3 per cent or S$0.13 to S$38.18 and OCBC gained 0.2 per cent or S$0.03 to S$15.13.

Wall Street stocks scored gains on Monday as Federal Reserve chair Jerome Powell signalled further interest rate cuts are on the horizon. 

SEE ALSO

US: Dow, S&P 500 end third quarter at records

Europe: Shares end lower as automakers weigh, though clocks quarterly gains

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The Dow Jones Industrial Average rose 0.04 per cent or 17.15 points to 42,330.15 and the broad-based S&P 500 finished up 0.4 per cent or 24.31 points at 5,762.48, as both indices clocked fresh records. The tech-rich Nasdaq Composite Index climbed 0.4 per cent or 69.58 points to reach 18,189.17. 

European shares closed lower, weighed down by automakers leading declines despite clocking quarterly and monthly gains. The pan-European Stoxx 600 closed 1 per cent or 5.19 points lower at 522.89, falling from last week’s record high.