Hot stocks: Tiger, SIA surge amid drop in oil prices

SHARES of airlines rose in early trading on Monday as oil prices fell sharply.

Tiger Airways Holdings surged 6.5 per cent, gaining two Singapore cents to S$0.330, as at 11am. Some 27 million shares changed hands.

Its peer Singapore Airlines (SIA) also made gains, with its shares rising 19 Singapore cents to S$11.81, up 1.6 per cent.

US crude fell more than 2 per cent to a six-year low on fears over oil storage constraints in the United States, a Reuters report said. The dollar has also hit new highs.