Singapore stocks open strong on Wednesday; STI up 1.2%

SINGAPORE stocks posted strong gains on Wednesday (Jan 25) morning after a holiday-extended weekend.

The Straits Times Index (STI) rose 1.2 per cent or 39.39 points to 3,333.10 as at 9.02 am. Gainers outnumbered losers 122 to 36 after 78.5 million securities worth S$157.1 million changed hands.

The Place Holdings was the most actively traded counter on Wednesday morning. The mainboard-listed counter was unchanged at S$0.018 upon ten million of its shares changing hands.

Thai Beverage was also actively traded in terms of volume with 3.2 million of its securities transacted in early trade. The beverage company rose 1.4 per cent or S$0.01 to S$0.715.

Another index counter, Singtel , was also among the top five actively traded names in terms of volume, with 2.4 million of its securities moving at the open. The telecommunications company was up 0.8 per cent or S$0.02 to S$2.47.

The trio of local banks were all trading higher on Wednesday morning. DBS was up 1.6 per cent or S$0.55 to S$35.10, while UOB rose 1.9 per cent or S$0.550 to S$29.95. OCBC gained 0.9 per cent or S$0.11 to S$12.77.

SEE ALSO

Singapore shares jump with Asian markets; STI rises 0.5%

Singapore shares nearly flat on Friday, STI edge up 0.03%

Wall Street stocks saw mixed activity on Tuesday following an uneven set of results from US corporate giants.

The Dow Jones Industrial Average rose 0.3 per cent to close at 33,733.96, while the broad-based S&P 500 slipped 0.1 per cent to 4,016.95. Meanwhile, the tech-rich Nasdaq Composite Index also dropped 0.3 per cent to 11,334.27.

Shares in Europe fell on Tuesday on speculation that the European Central Bank might have more room to raise interest rates to tackle inflation. The Stoxx 600 dipped 0.2 per cent to 453.38 at the close.