Singapore shares rise at Monday’s open, tracking global rally; STI up 0.6%
Vivienne Tay
SINGAPORE stocks started the week higher, extending gains from last week, when markets in the United States and Europe ended on a positive note.
In Singapore, the Straits Times Index rose 0.6 per cent or 20.38 points to 3,279.28 as at 9.01 am on Monday (Apr 3). Across the broader market, gainers outnumbered losers 93 to 30, or about three securities up for every one down, after 79.1 million securities worth S$77.8 million changed hands.
The most active counter by volume was Sembcorp Marine , which climbed 3.4 per cent or S$0.004 to S$0.123, with 44 million shares changing hands. The rig builder’s shares rose as much as 4.3 per cent on Friday after it said it secured six billion euros (S$8.64 billion) in contracts. On Monday, however, the group gave notice that it continued to post three consecutive years of losses.
Other heavily traded securities included Genting Singapore , which was up 2.7 per cent or S$0.03 to S$1.15, with 11.8 million shares traded, as well as Dyna-Mac , which was trading 5 per cent or S$0.01 higher at S$0.21, with 6.4 million shares traded.
Banking stocks rose in early morning trade. DBS was trading 0.5 per cent or S$0.15 higher at S$33.15, UOB was up 0.3 per cent or S$0.09 to S$29.85, while OCBC gained 0.7 per cent or S$0.08 to S$12.45.
Other active index counters included CapitaLand Integrated Commercial Trust , which was up 1 per cent or S$0.02 to S$2, and Keppel Corporation , which advanced 1.6 per cent or S$0.09 to S$5.72.
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Stocks rallied on Wall Street on Friday, ending the first quarter of 2023 higher as investor fears over the banking industry eased.
The Dow Jones Industrial Average finished 1.3 per cent higer at 33,274.15, the S&P 500 rose 1.4 per cent to 4,109.31, while the tech-rich Nasdaq Composite Index climbed 1.7 per cent to 12,221.91.
In Europe, shares rose on Friday, with the pan-European Stoxx 600 index closing 0.7 per cent higher.
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