Singapore stocks open higher on Wednesday; STI up 0.5%
Bernadette Toh
SINGAPORE shares rose in early trade on Wednesday (Jan 11) after US stocks ended higher overnight.
The Straits Times Index (STI) rose 0.5 per cent or 16.21 points to 3,279.12 as at 9 am. Gainers outnumbered losers 54 to 32 after 30.7 million securities worth S$39.57 million changed hands.
ICP shares were among the most actively traded securities on Wednesday morning, with 2.5 million shares changing hands as at 9 am. The counter fell 10 per cent or S$0.001 to S$0.009.
Another index counter, Genting Singapore , was also heavily traded. The counter was up S$0.005 or 0.5 per cent at S$0.99 after 1.4 million of its shares changed hands.
Units of Keppel real estate investment trust were also among the top five actively traded counters in terms of volume. Its units were up 0.6 per cent or S$0.005 to S$0.90 as at 9 am.
The trio of local banks were also trading higher on Wednesday morning. DBS was up 0.7 per cent or S$0.24 to S$34.80, UOB rose 0.6 per cent or S$0.18 to S$30.28, while OCBC gained 0.5 per cent or S$0.06 to S$12.60 as at 9 am.
Wall Street stocks finished higher on Tuesday as markets digested a downgraded global outlook from the World Bank and awaited key inflation data.
The Dow Jones Industrial Average finished up 0.6 per cent at 33,704.10. The broad-based S&P 500 gained 0.7 per cent to 3,919.25, while the tech-rich Nasdaq Composite Index jumped 1.0 per cent to 10,742.63.
European shares fell on Tuesday at closing for the first time in three sessions in a broad-based retreat, with some declines being offset after comments by US Federal Reserve Chair Jerome Powell and gains in shares of German drugmaker Bayer. The pan-European Stoxx 600 closed 0.6 per cent lower, after hitting its highest level in eight months in the previous session.
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