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Singapore shares open higher on Thursday; STI up 0.9% to 3,045.71

SINGAPORE stocks opened higher on Thursday, with the Straits Times Index advancing 0.9 per cent or 26.91 points to 3,045.71 as at 9.05am.

Gainers outnumbered losers 115 to 52, as about 58.2 million shares worth S$114.7 million in total changed hands.

The most actively traded counter was Genting Singapore with 8.87 million shares changing hands, rising 1.14 per cent or one Singapore cent to 89 Singapore cents.

Other actives included Thomson Medical with 5.14 million units changing hands, up 1.28 per cent or 0.1 Singapore cent to 7.9 Singapore cents; and MMP Resources which was flat at 0.3 Singapore cent with 4.6 million shares traded.

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Active index stocks included OCBC Bank, which climbed 2.33 per cent or 25 Singapore cents to S$10.99. The bank reported record earnings for its third fiscal quarter on Thursday.

DBS, which has yet to report its earnings, was also up 1.32 per cent or 31 Singapore cents to S$23.77.

Elsewhere in Asia, Tokyo stocks opened lower on Thursday as fresh concerns emerged over the prospects for the Chinese economy with a firmer yen also weighing on the market.

Overnight, US stocks rebounded for a second day on Wednesday as investors snapped up beaten-down technology and Internet favourites and strong company results lifted spirits even as the S&P 500 closed out its worst month in seven years.