Singapore stocks open higher on Tuesday; STI up 0.2%

SINGAPORE stocks rose in early trade on Tuesday (Feb 28) following gains in US and Europe markets.  

The Straits Times Index (STI) rose 0.2 per cent or 5.64 points to 3,268.88 as at 9.01 am. Gainers outnumbered losers 64 to 39 after 34.1 million securities worth S$32.9 million changed hands. 

Shen Yao was the most actively traded on Tuesday morning, with 66.5 million of its securities changing hands at the open. The gold mining company remained unchanged at S$0.001. 

Golden Agri-Resources was also actively traded in terms of volume with 3.4 million shares changing hands on Tuesday morning. The palm oil company was up 2 per cent or S$0.005 to S$0.26. 

International Cement Group was also among the top five actively traded counters in terms of volume, with 3.7 million of its shares changing hands in early trade. The cement company was up 8.3 per cent or S$0.002 at S$0.026. 

The trio of local banks saw gains on Tuesday morning. DBS was up 0.1 per cent or S$0.03 to S$34.37, while UOB also rose 0.1 per cent or S$0.03 to S$29.97. Meanwhile, OCBC was up 0.2 per cent or S$0.02 to S$12.72. 

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Singapore stocks track Wall Street losses; STI down 0.6%

Wall Street stocks ended higher on Monday with traders keeping an eye out for upcoming earnings of retailers.  

The Dow Jones Industrial Average rose 0.2 per cent to close at 32,889.29, while the broad-based S&P 500 increased 0.3 per cent to 3,982.35. Meanwhile, the tech-rich Nasdaq Composite Index ended 0.6 per cent higher at 11,466.98. 

Europe shares ended higher, boosted by gains across all major sectors. The Stoxx 600 rose 1.1 per cent to end at 462.58.