Singapore shares rise at Tuesday’s open; STI up 0.2%

SINGAPORE shares climbed at market open on Tuesday (Jan 23) after global equities ended higher overnight.

Singapore’s Straits Times Index (STI) rose 0.2 per cent or 5.78 points to 3,154.90 as at 9.01 am. 

Across the broader market, gainers outnumbered losers 76 to 34 after 63 million securities worth S$49.1 million changed hands.

Seatrium was the most heavily traded counter by volume at the open, rising 0.9 per cent or S$0.001 to S$0.108 after 45.5 million securities were transacted.

Other companies that saw brisk trading included CapitaLand Investment , which fell 1.4 per cent or S$0.04 to S$2.88.

Banking stocks rose in early morning trade. DBS inched up 0.2 per cent or S$0.06 to S$31.96, UOB was up 0.5 per cent or S$0.15 at S$28.08, and OCBC gained 0.5 per cent or S$0.06 to S$12.97.

US equities touched a record high at Monday’s close in another session of gains for major indices, bolstered by investors monitoring the ongoing corporate earnings season and speculating on interest-rate cuts this year.

The Dow Jones Industrial Average rose 0.4 per cent to 38,001.81, trading above the 38,000 mark for the first time on record. The broad-based S&P 500 added 0.2 per cent to 4,850.43, while the tech-heavy Nasdaq Composite Index gained 0.3 per cent to 15,360.28.

European shares tracked the Wall Street rally to rise on Monday while investors awaited the European Central Bank’s policy decision later this week.

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The pan-European Stoxx 600 index ended 0.8 per cent higher at 472.86.