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Singapore shares open higher on possible delay in Fed rate hike


SINGAPORE shares opened 1.43 per cent or 41.20 points higher at 2,914.20 on Thursday, on the back of a possible US Federal Reserve delay in interest rate hike.

At 9.03am, the benchmark Straits Times Index had 151.6 million shares worth S$121.5 million changing hands, with gainers outnumbering losers 180 to 22.

The more active counters included the local banks and Silverlake Axis.

Wall Street racked up its biggest one-day gain in four years on Wednesday as fears about China's economy gave way to bargain hunters emboldened by expectations the Fed might not raise interest rates next month.

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