Singapore stocks open higher on Monday; STI up 0.2%

SINGAPORE shares began trading in positive territory on Monday (Sep 4) following a holiday-shortened week.

As at 9.01 am, the Straits Times Index (STI) rose 6.26 points or 0.2 per cent to 3,239.56. Gainers outnumbered losers 62 to 59 across the broader market, with 139.6 million securities worth S$231.5 million changing hands.

Seatrium was the most actively traded stock at the open in terms of volume, with 65.5 million securities transacted. The counter rose S$0.001 or 0.7 per cent to S$0.146. 

Shares of Sembcorp Industries were also actively traded, as the index counter added S$0.05 or 0.9 per cent in early trade to S$5.40. 

CapitaLand Ascendas Reit saw brisk activity as well. Its units shed S$0.01 or 0.4 per cent to S$2.76. 

Local banks were all trading higher at the open, with UOB notching the most gains to reach S$28.70, up S$0.26 or 0.9 per cent. DBS climbed S$0.12 or 0.4 per cent to S$33.42, and OCBC added S$0.08 or 0.6 per cent to S$12.63. 

Wall Street equities mostly advanced on Friday after the release of a weaker jobs report that was seen to raise the chances of an end to Federal Reserve interest-rate hikes in the coming months.

The Dow Jones Industrial Average finished 0.3 per cent higher at 34,837.71, and the broad-based S&P 500 rose 0.2 per cent to 4,515.77. The tech-heavy Nasdaq Composite Index closed almost flat at 14,031.81.

European shares ended Friday muted as a decline in luxury companies and carmakers offset gains in commodity-linked sectors.

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Though notching its best weekly gain since mid-July, the pan-European Stoxx 600 closed the day relatively unchanged at 458.13.