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Singapore shares open higher on Wednesday

The local stock market continued to be plagued by weak sentiment on Wednesday as the Straits Times Index recorded its third straight fall, albeit in slightly improved volume.

SINGAPORE shares opened higher on Wednesday, with the Straits Times Index gaining 0.86 points to 2,835.09, following a positive end to US equity markets on Tuesday.

Financial markets in the United States, Europe and Japan are seen to be stabilising after a tumultuous start on the first trading day of the year.

Some of the early movers in Singapore were premium marble producer Terratech Group, which fell on Tritech Group's announcement that it is divesting the subsidiary, and Singapore Post (SingPost), which also opened on a negative note.

Some 46.6 million shares worth S$39.7 million were traded as at 9.02am, with gainers outnumbering losers 90 to 48.