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Singapore shares open up on Thursday; STI up 0.3% to 3,248.94

SINGAPORE stocks opened higher on Thursday, with the Straits Times Index rising 0.3 per cent, or 9.84 points to 3,248.94 as at 9.05am.

Gainers outnumbered losers 63 to 30, as some 41.9 million shares worth S$106.8 million in total changed hands.

The most actively traded counter was Genting Singapore, which was flat at S$1.06 with 5.8 million shares changing hands. Other actives included Rex International with 3.36 million shares traded, flat at 10.7 Singapore cents, and ASTI with 3.23 million units traded, up 6.02 per cent or 0.5 Singapore cent to 8.8 Singapore cents.

Among active index stocks, UOB inched up 0.66 per cent, or 18 Singapore cents, to S$27.33, while Singtel eased 0.63 per cent, or two Singapore cents, to S$3.17.

In US stocks overnight, a Wall Street rally collapsed and stocks turned negative shortly before the market closed on Wednesday after investors reassessed the Federal Reserve's policy statement and reduced their risk as they weighed how long the US central bank would continue to raise interest rates.

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Meanwhile, Tokyo stocks opened lower on Thursday on profit taking after an eight-day winning streak and the Federal Reserve's rate hike.

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