Singapore shares rise at Tuesday’s open, tracking global rally; STI up 0.3%

SINGAPORE stocks were pulled into positive territory on Tuesday (Jan 9) following overnight gains on global equity markets.

The Straits Times Index (STI) headed up 0.3 per cent or 8.16 points to 3,195.18 as at 9.01 am. Across the broader market, gainers outnumbered losers 78 to 35, after 31.3 million securities worth S$43 million changed hands.

One of the most active counters by volume was Seatrium , which rose 0.9 per cent or S$0.001 to S$0.113 with 2.9 million shares traded.

Other heavily traded securities included NetLink NBN Trust which added 0.6 per cent or S$0.005 to S$0.86 with 1.8 million shares traded, and Rex International , which lost 1.6 per cent or S$0.003 to S$0.183 with 1.5 million shares traded.

Banking stocks were mixed in early morning trade. UOB was up 0.7 per cent or S$0.20 to S$28.60, OCBC advanced 0.5 per cent or S$0.06 to S$12.86 while DBS was down 0.3 per cent or S$0.09 at S$32.76.

Wall Street stocks clawed back some gains on Monday after a weak start to the year. Major indices had opened 2024 with weekly losses following a two-month rally supported by moderating inflation and hopes for interest rate cuts in the new year.

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The Dow Jones Industrial Average finished up 0.6 per cent at 37,683.01, while the broad-based S&P 500 climbed 1.4 per cent to 4,763.54. The tech-rich Nasdaq Composite Index, meanwhile, surged 2.2 per cent to 14,843.77.

In Europe, shares ended higher on Monday as well. The pan-European Stoxx 600 closed 0.3 per cent higher after falling as much as 0.7 per cent during the day.