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Singapore shares open higher on Wednesday; STI up 0.8% to 2,990.6

SINGAPORE stocks opened stronger on Wednesday, with the Straits Times Index up 0.8 per cent, or 24.15 points to 2,990.6 as at 9.04am.

Gainers outnumbered losers 96 to 41, as some 103.4 million shares worth S$324 million in total changed hands.

The most actively traded counter was Genting Singapore with 13.62 million units traded, rising 1.16 per cent or one Singapore cent to 87 Singapore cents. Other actives included Singtel with 9.9 million shares traded, up 0.32 per cent or one Singapore cent to S$3.13; and Golden Agri-Resources, which slipped 2.0 per cent, or 0.5 Singapore cent to 24.5 Singapore cents with 7.11 million shares changing hands.

Active index stocks included DBS which added 1.54 per cent or 35 Singapore cents to S$23.15, and UOB which gained 1.13 per cent or 27 Singapore cents to S$24.27.

Elsewhere in Asia, Tokyo stocks also opened higher on Wednesday extending rallies in New York as investors hunted bargains after recent dips, while watching corporate earnings reports.

In the US overnight, major US stock indices jumped more than 1 per cent on Tuesday, helped by strong gains for chip and transport stocks as investors took advantage of cheaper prices following a steep recent pullback for equities. All 11 major S&P 500 sectors ended higher a day after a volatile session on Monday that saw the benchmark S&P 500 sink close to a correction.

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