Singapore shares rise at Thursday’s open; STI up 0.3%

SINGAPORE equities started Thursday (Jun 6) morning on a strong footing, tracking global gains overnight.

As at 9.01 am, the Straits Times Index (STI) opened 0.3 per cent or 11.3 points higher at 3,341.31. Across the broader market, gainers outnumbered losers 73 to 21 after 45.8 million securities worth S$74 million changed hands.

One of the most actively traded counters by volume was Thai Beverage , which was trading flat at S$0.51, with 6.3 million shares changing hands.

Other heavily traded securities included Yangzijiang Shipbuilding , which lost 0.4 per cent or S$0.01 to S$2.32. Singtel gained 0.4 per cent or S$0.01 to S$2.53, and units of Keppel Reit rose 0.6 per cent or S$0.005 to S$0.865.

Banking stocks traded higher at the open. DBS rose 1 per cent or S$0.36 to S$35.72. UOB gained 0.1 per cent or S$0.03 to S$30.72, and OCBC gained 0.1 per cent or S$0.02 to S$14.30.

Wall Street stocks rose as chip designer Nvidia topped US$3 trillion in market value.

SEE ALSO

Stocks to watch: OUE Reit, Yangzijiang Financial, UG Healthcare

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The broad-based S&P 500 surged 1.2 per cent to 5,354.03, and the tech-heavy Nasdaq Composite Index rallied 2 per cent to 17,187.9. The Dow Jones Industrial Average rose 0.3 per cent to 38,807.33.

European shares gained on the back of technology stocks as investors shifted focus to the European Central Bank’s key rate decision later this week.

The pan-European Stoxx 600 closed 0.8 per cent higher at 521.23 with the technology sector booking its best single-day performance in more than four months.