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

SINGAPORE stocks opened stronger on Thursday (Jan 11) following overnight gains in global equity markets, as investors await key US inflation data due this week.

Singapore’s Straits Times Index (STI) headed up 0.3 per cent or 10.52 points to 3,190.48 as at 9.02 am. Across the broader market, gainers outnumbered losers 70 to 39, after 49.2 million securities worth S$53.9 million changed hands.

The most active counter by volume was Seatrium , which held steady at S$0.111 with 6.1 million shares traded.

Other heavily traded securities included Thai Beverage Public Company , which remained unchanged at S$0.535 with six million shares traded, and Yangzijiang Shipbuilding , which rose 0.7 per cent or S$0.01 to S$1.56 with 2.6 million shares traded.

Banking stocks were mixed in early morning trade. DBS climbed 0.8 per cent or S$0.27 to S$32.78, UOB added 0.7 per cent or S$0.19 to S$28.42, while OCBC fell 0.1 per cent or S$0.01 to S$12.82.

Wall Street stocks were pulled into positive territory on Wednesday. The Dow Jones Industrial Average closed 0.5 per cent higher at 37,695.73. The broad-based S&P 500 rose 0.6 per cent to 4,783.45, and the tech-rich Nasdaq Composite Index ended 0.8 per cent higher at 14,969.65.

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In Europe, shares finished lower on Wednesday, supported by gains from mining and travel stocks. The pan-European Stoxx 600 closed 0.2 per cent lower.