Singapore stocks open higher on Tuesday; STI up 0.4%

SINGAPORE stocks rose in early trade on Tuesday (Feb 14) following gains in the US and European markets.  

The Straits Times Index (STI) rose 0.4 per cent or 11.48 points to 3,336.18 as at 9.01am. Gainers outnumbered losers 76 to 41 after 41 million securities worth S$45.3 million changed hands. 

Halcyon Agri was the most actively traded on Tuesday morning, with 10.7 million of its securities changing hands at the open. The rubber franchise was up 1.2 per cent or S$0.005 at S$0.41. 

Thai Beverage was also actively traded in terms of volume with 5.1 million shares changing hands on Tuesday morning. The beverage company was down 0.7 per cent or S$0.005 to S$0.67. 

The Place Holding was also among the top five actively traded counters in terms of volume, with 2.4 million of its shares changing hands in early trade. The mainboard-listed counter was unchanged at S$0.013.

The trio of local banks rose on Tuesday morning. DBS was up 0.6 per cent or S$0.2 to S$35.52, while OCBC also rose 0.1 per cent or S$0.01 to S$13.03. Meanwhile, UOB was up 0.6 per cent or S$0.17 to S$30.4. 

SEE ALSO

STI falls 1.1% as caution prevails ahead of US CPI data

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Wall Street stocks ended higher on Monday ahead of key inflation data, with market watchers anticipating the easing of the Federal Reserve’s rate hikes. 

The Dow Jones Industrial Average rose 1.1 per cent to close at 34,245.93, while the broad-based S&P 500 also increased 1.1 per cent to 4,137.29. Meanwhile, the tech-rich Nasdaq Composite Index also rose 1.5 per cent to 11,891.79. 

European shares ended higher as focus pivoted to upcoming inflation data from the US while defence stocks rose on news of India aiming to triple its defence exports. The Stoxx 600 rose 0.9 per cent to 462.03 at the close.