Singapore equities open flat on Friday; STI inches up 0.02%

STOCKS in Singapore had a calm start on Friday amid rallies in other global markets.

The benchmark Straits Times Index (STI) edged up 0.43 point or 0.02 per cent to 2,543.54 as at 9.14am.

About 141.8 million securities worth S$78.1 million changed hands. Advancers outnumbered decliners 88 to 43, or about two counters up for every one down.

Among the most actively traded by value and volume was Suntec Real Estate Investment Trust (Suntec Reit), which slipped S$0.02 or 1.4 per cent to S$1.45 as at 9.16am, after 5.9 million units changed hands. Suntec Reit's manager on Thursday night said it is looking to acquire a 50 per cent stake in London's Nova development at an agreed value of £430.6 million (S$766.5 million).

The banks had a mixed showing in early trade, with DBS advancing S$0.09 or 0.4 per cent to S$21.11 and UOB rising S$0.06 or 0.3 per cent to S$19.59, while OCBC was flat at S$8.61.

Clocking heavy volume was Sembcorp Marine, which climbed 0.2 Singapore cent or 1.4 per cent to 15 cents with 23.6 million shares changing hands.

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CapitaLand Retail China Trust (CRCT) was one of the top traded counters by value, gaining S$0.01 or 0.8 per cent to S$1.21 on almost 3.8 million units traded. DBS Group Research on Thursday said CRCT is a "China behemoth in the making", with an addressable pipeline of more than S$33 billion from its sponsor CapitaLand.

US stocks advanced for a second straight session at Thursday's close amid conflicting signs on the prospects for more stimulus, while data showed joblessness staying stubbornly high.

The Dow Jones Industrial Average gained 0.4 per cent to 28,425.51. The broad-based S&P 500 moved up 0.8 per cent to 3,446.83, while the tech-rich Nasdaq Composite Index advanced 0.5 per cent to 11,420.98.

European shares, meanwhile, hit a near three-week high on Thursday as investors pinned hopes on more US stimulus even as coronavirus cases surged across the continent. The pan-European Stoxx 600 index closed 0.8 per cent higher after making hesitant gains in morning trading.

In Tokyo, stocks rose on Friday morning, helped by a cheap yen against the US dollar.