Singapore shares edge up at Monday's open; STI up 0.1%

SINGAPORE stocks edged up on Monday amid mixed openings from banks and declines in several index counters.

Data from Enterprise Singapore on Monday showed the Republic's non-oil domestic exports continuing to rise in July, up 6 per cent year on year. This was slower than June's 13.9 per cent expansion.

Investors are also anticipating more details on support for firms and workers amid the Covid-19 pandemic, which will be announced by Deputy Prime Minister and Finance Minister Heng Swee Keat on Monday.

Singapore's Straits Times Index (STI) was up 0.1 per cent or 1.46 points to 2,582.78 as at 9.04am.

Gainers outnumbered losers 81 to 70, after 125.8 million securities worth S$87.6 million changed hands.

The most active counter by volume was Thai Beverage Public Company, which rose 4.1 per cent or 2.5 Singapore cents to 63 cents, with 39.5 million shares traded.

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Other heavily traded securities included Medtecs International which advanced 3.1 per cent or S$0.05 to S$1.66 with 4.4 million shares traded, as well as Sembcorp Marine which held steady at 22.5 Singapore cents with 2.2 million shares traded.

Banking stocks were mixed in early morning trade. DBS was up 0.3 per cent or S$0.06 to S$21.13, UOB was down 0.2 per cent or S$0.03 to S$20.04, while OCBC Bank remained unchanged at S$8.95.

Other active index counters included Singapore Airlines, which declined 0.8 per cent or S$0.03 to S$3.76, as well as Keppel Corp, which lost 0.6 per cent or S$0.03 to S$4.79.

Singtel was flat at S$2.44. The telco on Monday posted declines in its group revenue and earnings before interest, tax, depreciation and amortisation for the first quarter ended June 30, 2020.

Elsewhere in Asia, Tokyo shares opened lower after official data showed the nation's economy experienced a record quarterly contraction of 7.8 per cent. The benchmark Nikkei 225 index fell 0.3 per cent to 23,212.38 in early trade, while the broader Topix index eased 0.1 per cent to 1,621.62.