Singapore stocks open higher on Monday; STI up 0.2%

SINGAPORE stocks rose in early trade on Monday (Jan 30) following gains in US and Europe markets. 

The Straits Times Index (STI) rose 0.2 per cent or 5.48 points to 3,399.69 as at 9.01 am. Gainers outnumbered losers 94 to 39 after 39.4 million securities worth S$59.2 million changed hands. 

Index counter Singtel : Z74 0% was the most actively traded on Monday morning, with 3.2 million of its securities changing hands at the open. The telecommunications company was down 1.6 per cent or S$0.04 to S$2.51. 

CapitaLand Ascott Trust : HMN 0% was also actively traded in terms of volume with 2.9 million shares changing hands on Monday morning. The stapled group was up 2.8 per cent or S$0.03 to S$1.10. 

Keppel Reit : K71U 0% was also among the top five actively traded counters in terms of volume, with 2.3 million of its shares changing hands in early trade. The real estate investment trust was up 1 per cent or S$0.01 to S$0.98. 

The trio of local banks saw mixed activity on Monday morning. UOB : U11 0% was up 0.7 per cent or S$0.22 to S$30.41, while OCBC : O39 0% was up 0.3 per cent or S$0.04 to S$13.04. DBS : D05 0%was down 0.2 per cent or S$0.06 to S$35.91. 

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Wall street stocks ended higher on Friday following economic data and corporate earnings guidance that hinted at softening demand but also economic resilience. 

The Dow Jones Industrial Average rose 0.08 per cent to close at 33,978.08, while the broad-based S&P 500 gained 0.3 per cent to 4,070.56. Meanwhile, the tech-rich Nasdaq Composite Index rose 1 per cent to 11,621.71. 

Shares in Europe also ended higher on Friday on mixed earnings in the region and easing inflation in the US. The Stoxx 600 rose for the second straight day by 0.2 per cent to 455.17 at the close.