Singapore shares rise at Tuesday’s open after mixed close on Wall Street; STI up 0.5%
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Vivienne Tay
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SINGAPORE stocks rose in the first few minutes of trade on Tuesday (Mar 28), following a mixed performance in global markets.
This came as investors took comfort in the news that First Citizens BancShares would acquire Silicon Valley Bank’s deposits and loans, allaying recent concerns over the banking sector.
In Singapore, the Straits Times Index (STI) headed up 0.5 per cent or 15.75 points to 3,254.78 as at 9.02 am. Gainers outnumbered losers 87 to 40, or about two securities up for every one down, after 111.9 million securities worth S$120 million changed hands.
The most active counter by volume was Sembcorp Marine , which held steady at S$0.105 with 32.2 million shares traded.
Other heavily traded securities included Suntec Real Estate Investment Trust , which increased 1.4 per cent or S$0.02 to S$1.44 with seven million units transacted, as well as Thai Beverage , which declined 1.5 per cent or S$0.01 to S$0.64 with 6.3 million shares changing hands.
Banking stocks rose in morning trade. DBS gained 0.1 per cent or S$0.03 to S$33.49, UOB advanced 0.8 per cent or S$0.24 to S$29.72, while OCBC rose 0.5 per cent or S$0.06 to S$12.47.
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Other active index counters included CapitaLand Investment , which jumped 2.3 per cent or S$0.08 to S$3.63, as well as Yangzijiang Shipbuilding , which lost 0.8 per cent or S$0.01 to S$1.21.
In the US, shares ended mixed on Monday. The Dow Jones Industrial Average closed 0.6 per cent higher at 32,432.08. The S&P 500 rose 0.2 per cent to 3,977.56, while the tech-rich Nasdaq Composite Index lost 0.5 per cent to 11,768.84.
European shares also recovered. The pan-European Stoxx 600 index finished 1.1 per cent higher, with banks rising 1.4 per cent after shedding 3.8 per cent on Friday.
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