Singapore shares open muted on Monday; STI up 0.03% 

SINGAPORE stocks were little changed at the opening bell on Monday (Apr 8) morning, following mixed results in US and European markets. 

As at 9.01 am, the Straits Times Index (STI) rose 0.92 point or 0.03 per cent to 3,219.18. Across the broader market, gainers outnumbered losers 75 to 55 after 61.3 million securities worth S$36.1 million changed hands. 

Seatrium was the most heavily traded counter by volume. It remained unchanged at S$0.084 after 28.4 million securities were transacted. 

Other counters that were briskly traded included Singtel, which rose S$0.02 or 0.8 per cent to S$2.42 after 4.7 million shares were exchanged, and Aspen, which climbed S$0.004 or 8.9 per cent to S$0.049 after 2.7 million securities changed hands. 

Banking stocks were mixed in early trade. DBS shed S$0.09 or 0.3 per cent to S$35.41, and OCBC declined S$0.01 or 0.1 per cent to S$13.73. UOB gained S$0.03 or 0.1 per cent to S$29.43. 

Wall Street stocks ascended on the back of a hotter-than-expected US jobs report on Friday, reflecting labour market strength undeterred by high US interest rates. The tech-heavy Nasdaq Composite Index inched up 1.2 per cent to 16,248.52, while the broad-based S&P 500 advanced 1.1 per cent to 5,204.34. The Dow Jones Industrial Average gained 0.8 per cent to 38,904.04.

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Over in Europe, shares retreated on Friday, tracking a broader market decline amid hawkish comments from Federal Reserve officials and a surge in Middle East tensions. The pan-European Stoxx 600 fell 0.8 per cent to a more than two-week low, closing at 506.55.