Singapore shares open higher on Wednesday; STI up 0.8%

SINGAPORE stocks opened 0.8 per cent higher on Wednesday, with the Straits Times Index gaining 26.78 points to 3,524.98 as at 9.04am.

About 61 million shares worth S$143.5 million in total changed hands, which worked out to an average unit price of S$2.35 per share.

The most actively traded counter was Ezion, which fell S$0.003 to S$0.191 with 16.9 million shares changing hands. Other actives included Genting Singapore, with 5.4 million shares traded at S$1.20 apiece, and AusGroup with 5.27 million shares changing hands at S$0.05 a share.

Gainers outnumbered losers 99 to 53, or about two up for every one down.

Overnight, Wall Street stocks powered higher Tuesday on strong corporate earnings, with a strong showing from Netflix igniting a rally in technology shares.

Analysts said strong results gave the market the impetus to shift its fixation from trade war fears and other problems, according to AFP reporting.

Elsewhere, Tokyo stocks also opened higher on Wall St's gains.