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Singapore shares open higher on Thursday; STI up 0.47%

SINGAPORE shares started Thursday higher after US markets rose overnight on the back of positive sentiments from US President Donald Trump regarding a US-China trade deal. The Straits Times Index gained 14.74 points or 0.47 per cent to 3,174.53 as at 9.04am.

Gainers outnumbered losers 92 to 20, after 61.8 million securities worth S$69.5 million changed hands.

The most actively traded security was Rex International, up S$0.005 or 2.9 per cent to S$0.177. Other actives included CWX Global and Yangzijiang Shipbuilding Holdings.

CapitaLand Retail China Trust traded up S$0.01 or 0.6 per cent to S$1.57 while Mapletree Commercial Trust was down S$0.01 or 0.4 per cent to S$2.31.

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Among financials, all three local banks gained ground with DBS advancing S$0.16 or 0.6 per cent to S$25.08, OCBC shares increasing S$0.03 or 0.3 per cent to S$10.68 and UOB up S$0.05 or 0.2 per cent to S$25.43.

Wall Street rebounded on Wednesday after US President Donald Trump said talks with China on an interim trade deal were going "very well".

Bloomberg, citing people familiar with the trade talks, reported US and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal despite tensions over Hong Kong and Xinjiang.

The Dow Jones Industrial Average rose 146.97 points or 0.53 per cent to 27,649.78, the S&P 500 gained 19.57 points or 0.63 per cent to 3,112.77 and the Nasdaq Composite added 46.03 points or 0.54 per cent to 8,566.67.

Europe was similarly upbeat, with the STOXX 600 closing up 1.2 per cent.

Elsewhere in Asia, Tokyo also rose following positive noises on the US-China trade deal. The benchmark Nikkei index climbed 0.78 per cent or 180.89 points to 23,316.12 in early trade, while the broader Topix index was up 0.58 per cent or 9.91 points at 1,713.18.