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Singapore shares rise at Monday's open; STI up 0.06% to 3,146.46

SINGAPORE stocks inched higher after the opening bell on Monday, with the Straits Times Index up 0.06 per cent or 1.98 points to 3,146.46 as at 9.02am, as markets in the region rose cautiously on hopes for government stimulus after a series of weak economic data. 

On the Singapore Exchange, gainers outnumbered losers 71 to 35, or about two securities up for every one down, after 37.0 million securities worth S$78.8 million changed hands.

Among the most heavily traded by volume, Thai Beverage Public Co shed 0.6 per cent or S$0.005 to S$0.885 with 2.3 million shares traded, while Keppel Reit moved down 0.8 per cent or S$0.01 to S$1.24 with 2.0 million shares traded.

TEE International retreated 13 per cent or S$0.006 to S$0.04 with 2.2 million shares traded, on news that it is appointing an external third party independent investigator to look into unauthorised transactions totalling S$6.55 million made by its subsidiaries to related parties.

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Active index stocks included City Developments, up 0.2 per cent or S$0.02 to S$9.68; and Venture Corp, down 0.8 per cent or S$0.12 to S$15.36. 

Bank stocks meanwhile, held steady or saw a marginal rise, with OCBC Bank flat at S$10.85; DBS Group Holdings up 0.1 per cent or S$0.03 to S$24.79; and United Overseas Bank up 0.7 per cent or S$0.18 to S$25.68.

Elsewhere in the region, MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent. Japan's Nikkei index rose 0.5 per cent, Australian stocks edged up 0.1 per cent while South Korea's KOSPI climbed 0.8 per cent.

On Monday, Japan revised down its second-quarter economic growth, while data out on Sunday showed China’s exports unexpectedly fell in August as shipments to the US slowed sharply. US jobs growth figures released on Friday were also weaker than expected.