Singapore stocks rise on Tuesday’s open; STI up 0.2%

THE Straits Times Index (STI) gained 0.2 per cent or 5.09 points to 3,219.81 as at 9.02 am. Gainers outnumbered losers at 66 to 62 after 44.8 million shares worth S$48.9 million changed hands. 

The most actively traded counter by volume was Seatrium , with 6.6 million shares traded and its share price increasing 0.8 per cent to S$0.127.

ComfortDelGro was another heavily traded counter with its share price losing one Singapore cent, or 0.9 per cent, to S$1.17. Six million of its shares changed hands.

CapitaLand Ascott Trust was also briskly traded, with its price dipping 1.9 per cent to S$1.04. 

The trio of local banks were all trading higher at the open. DBS gained 0.7 per cent, or S$0.2, to S$31.16. UOB gained 0.36 per cent, or S$0.1, to S$28.08. OCBC gained 0.5 per cent, or S$0.06, to S$12.32.  US shares ended trading on Friday up, as analysts were upbeat on planned negotiations between President Joe Biden and Republican congressional leaders on the US debt default. Stocks of US regional banks also recovered as investor attention turned away from their crisis of confidence. The Dow Jones Industrial Average was up 0.1 per cent to 33,348.60. The broad-based S&P 500 gained 0.3 per cent to 4,136.28, while the tech-rich Nasdaq Composite Index rose 0.7 per cent to 12,365.21. The pan-European pan-European Stoxx 600 index closed the day 0.3 per cent higher at 466.67, as investors anticipate the possibility of more interest rate hikes to tame inflation. More recent uncertainty also comes from the Turkish general election going into a runoff.