Singapore shares open higher on Monday; STI up 0.3% to 3,240.24

SINGAPORE shares opened higher on Monday morning, with the Straits Times Index gaining 0.3 per cent, or 10.81 points to 3,240.24 as at 9.02am. 

Gainers outnumbered losers 94 to 34, after about 64.4 million shares worth S$58.3 million changed hands. 

Among the most heavily traded by volume, Golden Energy and Resources was flat at 16.3 Singapore cents, with 13.2 million shares traded, while Rex International gained 3.7 per cent, or 0.4 cent to 11.3 cents, with 6.2 million shares traded. 

Banking stocks were mixed in the early morning trade - DBS added 0.7 per cent, or 17 Singapore cents to S$26.04, United Overseas Bank lost 0.2 per cent, or six cents to S$26.51, while OCBC Bank rose 0.5 per cent, or five cents to S$11.07. 

Other active stocks included Eagle Hospitality Trust which fell 3.8 per cent, or two US cents to 50.5 US cents, and AEM Holdings which rose 5.2 per cent, or eight cents to S$1.61. 

Elsewhere in Asia, stocks edged higher amid upbeat US jobs data and optimism that US and China are inching closer to an interim trade deal. 

Markets in Japan were closed for a holiday, while South Korea's Kospi rose 0.6 per cent, and Australian shares gained 0.3 per cent. 

Australia will deliver its monetary policy decision on Tuesday, while the Bank of the England will do the same on Thursday.