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Singapore shares open higher on Tuesday; STI up 0.31% to 3,109.22

SINGAPORE shares opened higher on Tuesday despite dips in the US market overnight. The Straits Times Index gained 9.74 points or 0.31 per cent to 3,109.22 as at 9.04am.

About 30.1 million shares worth about S$69 million changed hands, which worked out to an average unit price of about S$2.30 per share.

Gainers outnumbered losers 64 to 34.

The most actively traded security was Mapletree Greater China Commercial Trust, up S$0.01 or 0.8 per cent to S$1.28 after 3.7 million shares changed hands.

Sembcorp Marine was up S$0.02 or 1.7 per cent to S$1.21 with 2.8 million shares traded. This follows its long-awaited settlement with Sete Brasil over seven drillship contracts worth US$5.6 billion.

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Among financials, all three local lenders gained ground with DBS advancing S$0.08 or 0.3 per cent to S$24.76, OCBC shares gaining S$0.04 or 0.4 per cent to S$10.72 and UOB up S$0.22 or 0.9 per cent to S$25.54.

Among other index stocks, ST Engineering was up S$0.04 or 1 per cent to S$3.95 and Keppel Corp was up S$0.01 or 0.2 per cent to S$5.92 following its own settlement with Sete Brasil.

US stocks finished lower on Monday following a choppy session as the market fluctuated with shifting signals on the direction of US-China trade talks.

The latest round of high-level talks are due to begin Thursday, with Beijing's top trade envoy Liu He meeting  US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, the White House said in a statement.

The Dow Jones Industrial Average dropped 0.4 per cent to 26,477.75. The broad-based S&P 500 fell 0.5 per cent to 2,938.74, while the tech-rich Nasdaq Composite Index shed 0.3 per cent, closing at 7,956.29.

European shares rose on Monday, after their steepest weekly loss in two months, as bids in defensive shares outweighed nervousness ahead of crucial US-China trade talks and Brexit negotiations.

The pan-European Stoxx 600 index closed up 0.7 per cent, after it tumbled 3 per cent last week on tensions over a possible transatlantic trade war and a spate of weak US and European data.

Elsewhere in Asia, Tokyo stocks opened higher with the benchmark Nikkei 225 index up 0.53 per cent or 113.38 points at 21,488.63 in early trade, while the broader Topix index was up 0.52 per cent or 8.17 points at 1,580.92.

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