Singapore shares open higher on Tuesday; STI up 0.3%

SINGAPORE shares started trading in positive territory on Tuesday (Jun 27), in contrast with global markets, which closed lower amid uncertainty about ongoing events in Russia.

The Straits Times Index (STI) was up by 9.95 points or 0.3 per cent at 3,199.63 as at 9.01 am. Across the broader market, advancers outnumbered decliners 70 to 40 as 82.7 million securities worth S$51.2 million changed hands.

Index counter Seatrium was the most actively traded by volume, rising 1.6 per cent or S$0.002 to S$0.127 after 53 million shares were transacted.

Yangzijiang Shipbuilding was also briskly traded, rising 3.7 per cent or S$0.05 to S$1.40 at the open. CapitaLand Integrated Commercial Trust gained 1.6 per cent or S$0.03 to S$1.92.

The trio of local banks traded mixed. DBS was up 0.1 per cent or S$0.02 at S$31.59, OCBC advanced 0.2 per cent or S$0.03 to S$12.32 while UOB declined 0.1 per cent or S$0.03 to S$27.83.

In the US, large tech shares stumbled on Monday, weighing on major indices as markets eyed ongoing events in Russia and awaited key economic reports later in the week. This left the tech-rich Nasdaq Composite Index down 1.2 per cent at 13,335.78. The Dow Jones Industrial Average shed less than 0.1 per cent to 33,714.71 and the broad-based S&P 500 fell 0.5 per cent to 4,328.82.

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Over in Europe, shares inched lower on Monday, led by healthcare. Defence stocks fell after an aborted weekend mutiny in Russia. The pan-European Stoxx 600 index slipped 0.1 per cent to 452.68, extending losses for its sixth straight session.