Singapore shares open higher on Thursday, STI up 0.5% to 3,549.68

SINGAPORE stocks opened higher on Thursday, with the Straits Times Index advancing 16.63 points, or 0.5 per cent to 3,549.68 as at 9.02am.

This came after Wall Street rebounded strongly overnight, as upbeat data about US industry and corporate results offset inflation jitters.

On the Singapore bourse, gainers outnumbered losers 87 to 41, after about 47.2 million shares worth S$96.7 million changed hands.

The most actively traded counter by volume was Silverlake Axis, which was flat at S$0.545 with 3.8 million shares traded.

Other active index stocks included UOB which was up by 0.8 per cent to S$29.73; and DBS which rose 0.7 per cent to S$29.13.