Singapore shares open 0.9% higher on Monday

SINGAPORE stocks gained on Monday as traders kept an eye on the reopening of China's stock markets after the Chinese New Year break.

The Straits Times Index (STI) rose 0.9 per cent or 22.82 points to 2,562.77 as at 9.01am. A total of 41.2 million shares worth S$57.6 million were traded, with 91 gainers to 28 losers, or about three up for every one down.

Noble Group led the actives to add 4.9 per cent or 1.5 Singapore cents to change hands at 32 Singapore cents per share. More than 5.9 million shares had traded, the highest volume among Singapore-listed stocks at the time.

The key STI stocks all increased, with the three banks leading the way. DBS Group Holdings gained 0.8 per cent or 10 Singapore cents to trade at S$13.12, while OCBC Bank rose 1.1 per cent or eight Singapore cents to S$7.54. United Overseas Bank traded at S$17.68, up by 0.7 per cent or 12 Singapore cents.