Singapore stocks open higher on Monday; STI up 0.2%

SINGAPORE stocks rose in early trade on Monday (Mar 6), following gains in US and Europe markets.  

The Straits Times Index (STI) rose 0.2 per cent or 4.88 points to 3,236.9 as at 9.01 am. Gainers outnumbered losers 79 to 20 after 102.5 million securities worth S$29.2 million changed hands. 

Sembcorp Marine was the most actively traded counter on Monday morning, with 128.2 million of its securities changing hands. It declined 1.8 per cent or S$0.002 to S$0.109. 

Thai Beverage was also briskly traded in terms of volume, with 4.5 million shares transacted at Monday’s open. The beverage company gained 0.8 per cent or S$0.005 to S$0.66. 

Shen Yao was among the top five actively traded counters, with 2.6 million of its shares changing hands in early trade. The gold mining company remained unchanged at S$0.001. 

The trio of local banks gained on Monday morning. DBS increased 0.4 per cent or S$0.13 to S$33.63, while UOB rose 0.3 per cent or S$0.10 to S$29.64. OCBC was up 0.2 per cent or S$0.03 at S$12.53. 

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Singapore stocks end lower as rate hikes weigh on sentiment; STI down 0.1%

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Wall Street stocks ended higher on Friday, as US Treasury yields eased and investors’ worries about inflation were toned down with the release of more economic data. 

The Dow Jones Industrial Average rose 1.2 per cent to close at 33,390.97, while the broad-based S&P 500 gained 1.6 per cent to 4,045.64. Meanwhile, the tech-rich Nasdaq Composite Index increased 2 per cent to 11,689.01. 

Europe shares ended higher, with the technology sector lifted on hopes of the Federal Reserve implementing more measured rate hikes, while miners extended their rally on optimism of a demand recovery in China. The Stoxx 600 rose 0.9 per cent to hit 464.26 at the close.