Singapore shares rise at Monday’s open tracking global rally; STI up 0.4%
Vivienne Tay
SINGAPORE stocks were pulled into positive territory on Monday (Nov 6) following gains on Wall Street last week.
On the Singapore bourse, the Straits Times Index (STI) rose 0.4 per cent or 12.7 points to 3,156.36 as at 9.01 am. Across the broader market, gainers outnumbered losers 98 to 33, or about three securities up for every one down, after 69.8 million securities worth S$56.3 million changed hands.
The most active counter by volume was Seatrium , which held steady at S$0.112 with 34.2 million shares traded.
Other heavily traded securities included Rex International , which remained unchanged at S$0.173 with 2.5 million shares traded, and Genting Singapore , which was up 0.6 per cent or S$0.005 to S$0.88.
Banking stocks rose in early morning trade. DBS rose 0.4 per cent or S$0.14 to S$33.43, UOB gained 0.4 per cent or S$0.11 to S$27.82, and OCBC advanced 0.5 per cent or S$0.07 to S$13.08.
Other active index counters included Singapore Airlines , which climbed 1.3 per cent or S$0.08 to S$6.29, and CapitaLand Investment , which was up 1 per cent or S$0.03 to S$3.10.
On Friday, Wall Street stocks rallied as bond yields tumbled following data which indicated signs of slowing US jobs growth and rising unemployment. This raised hopes that the Federal Reserve could be done raising interest rates.
The Dow Jones Industrial Average rose 0.7 per cent to 34,061.32, and the S&P 500 finished 0.9 per cent higher at 4,358.34. The tech-rich Nasdaq, meanwhile, added 1.38 per cent to close at 13,478.28.
Europe’s Stoxx 600 index posted its highest weekly gain since March, supported by interest-rate-sensitive real estate stocks. The pan-European index inched 0.2 per cent higher, also lifted by upbeat earnings.
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