Singapore shares open higher on Thursday; STI up 1.6%

SINGAPORE shares opened 1.6 per cent higher on Thursday, with the Straits Times Index up 55.09 points to 3,394.79 at 9.02am as global markets reassess the trade relations between the US and China from recent tariff increases.

On the Singapore Exchange, about 55 million shares worth S$97 million in total changed hands as gainers outnumbered losers 151 to 24.

The most actively traded stock was Magnus Energy, which traded at S$0.001 with 126.5 million shares changing hands.

Other actives included LionGold Corp and Genting Singapore.

On Wall Street, the Dow rose 230.94 points, or 0.96 per cent, to close at 24,264.30; the S&P 500 gained 30.24 points, or 1.16 per cent, to 2,644.69 and the Nasdaq Composite added 100.83 points, or 1.45 per cent, to 7,042.11.

In regional markets, stocks on Japan's Topix index gained 0.8 per cent as at 9.17am in Tokyo. Meanwhile, Australia's S&P/ASX 200 Index added 0.2 per cent and South Korea's Kospi index rose 0.8 per cent.