Singapore stocks open higher on Thursday; STI up 0.3%

SINGAPORE stocks rose at Thursday’s (Sep 14) open, even as global markets were mixed overnight.

As at 9.01 am, the Straits Times Index (STI) climbed 8.47 points or 0.3 per cent to 3,227.4. Across the broader market, gainers outnumbered losers 63 to 31, with 30.8 million securities worth S$41.9 million changing hands.

Among the most actively traded stocks in terms of volume was Pollux Properties , with 2.5 million securities transacted. The counter rose S$0.001 or 2.7 per cent to S$0.038.

Frencken Group was also briskly traded, climbing S$0.04 or 3.9 per cent to S$1.08.

Another heavily traded counter was Rex International , which gained S$0.003 or 1.8 per cent to S$0.17.

All three local banks opened higher on Thursday. DBS rose S$0.22 or 0.7 per cent to S$33.76, while UOB gained S$0.15 or 0.5 per cent to S$28.78. OCBC climbed S$0.06 or 0.5 per cent to S$12.64.

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Wall Street stock indices moved in opposite directions on Wednesday following a mixed inflation report, while lacklustre airline forecasts raised worries about demand. The Dow Jones Industrial Average declined 0.2 per cent to 34,575.53. The broad-based S&P 500 added 0.1 per cent to 4,467.44, while the tech-rich Nasdaq Composite Index climbed 0.3 per cent to 13,813.59.

In Europe, shares closed lower on Wednesday, as investors braced for the European Central Bank’s monetary policy decision on Thursday. The pan-European Stoxx 600 fell 0.3 per cent or 1.46 to close at 453.94.