Singapore stocks open higher on Wednesday, STI up 0.4%

SINGAPORE shares reversed losses in early trade on Wednesday (Jan 18) amid mixed activity in US and European markets.

The Straits Times Index (STI) rose 0.4 per cent or 14.51 points to 3,295.02 as at 9.02 am. Gainers outnumbered losers 70 to 36 after 36.3 million securities worth S$80.2 million changed hands.

Yangzijiang Financial Holding was the top-traded stock, with 5.8 million shares changing hands. It opened flat at S$0.355.

Genting Singapore remained unmoved at S$0.985 with 1.6 million shares traded. Other index counters Singtel and ThaiBev also traded flat at S$2.45 and S$0.705, respectively.

Keppel DC Reit traded 1.1 per cent or S$0.02 higher at S$1.92 with 998,100 units changing hands.

The trio of local banks saw gains. DBS rose 1.6 per cent or S$0.56 to S$35.43, while OCBC gained 0.6 per cent or S$0.08 to S$12.77. UOB was up 0.2 per cent or S$0.06 at S$29.46.

SEE ALSO

Stocks to watch: QAF, Vibrant

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

Wall Street stocks had mixed activity on Tuesday with the Dow Jones Industrial Average dipping 1.1 per cent to 33,910.85. The broad-based S&P 500 also fell 0.2 per cent to 3,990.97. Meanwhile, the tech-rich Nasdaq Composite Index rose 0.1 per cent to 11,095.11.

Shares in Europe closed at a fresh nine-month high, with the Stoxx 600 rising 0.4 per cent, its strongest level since Apr 22. The benchmark pan-European Stoxx index has risen by 7 per cent since the start of 2023.