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Singapore shares open higher on Wednesday; STI up 0.4%

SINGAPORE stocks opened higher on Wednesday, with the Straits Times Index moving up 14.75 points, or 0.4 per cent to 3,481.13 as at 9.01am.

This came as US stocks climbed overnight as investor concerns about US-China trade tensions eased after Chinese President Xi Jinping promised to cut import tariffs.

On the Singapore bourse, gainers outnumbered losers 112 to 34 after about 53.9 million shares worth S$104.3 million changed hands.

The most actively traded counters by volume were Aus Group, which rose 2.27 per cent or 0.1 Singapore cent to 4.5 Singapore cents with 5.8 million shares traded; and Oceanus which lost 10 per cent, or 0.1 Singapore cent to 0.9 Singapore cent with two million shares traded.

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Other active index stocks included Sembcorp Marine which was up 2.2 per cent to S$2.28 and Singtel which rose 0.9 per cent to S$3.41.

Elsewhere, stocks in Tokyo and Korea opened flat as at 9.10am in Tokyo, while Australia's S&P/ASX 200 Index fell 0.3 per cent, Bloomberg reported.