Singapore shares rise at Monday's open; STI up 0.32% to 3,176.43

SINGAPORE stocks opened stronger on Monday, with the Straits Times Index gaining 0.32 per cent or 10.14 points to 3,176.43 as at 9.02am.

Gainers outnumbered losers 76 to 37, or about two securities up for every one down, after 32.6 million securities worth S$47.4 million changed hands.

Among the most heavily traded by volume, Genting Singapore gained 0.6 per cent or S$0.005 to S$0.87 with four million shares traded. Spackman Entertainment Group headed up 5.6 per cent or S$0.001 to S$0.019 with 3.8 million shares traded. Singtel gained 0.3 per cent or S$0.01 to S$3.29 with 2.1 million shares traded.

Active index stocks included City Developments, up 4.5 per cent or S$0.38 to S$8.85; CapitaLand Commercial Trust, up 1.0 per cent or S$0.02 to S$2.03.

Banking stocks such as DBS Group Holdings was up 0.5 per cent or S$0.12 to S$24.51; United Overseas Bank was down 0.01 per cent or S$0.04 to S$24.22; and OCBC Bank, up 0.6 per cent or S$0.06 to S$10.70.

Elsewhere in Asia, Tokyo stocks opened stronger on Monday, following Wall Street rallies after a weak US jobs report boosted expectations that the Federal Reserve would cut interest rates so.

The Nikkei 225 index gained 1.24 per cent or 259.51 points to 21,144.22 in early trade, while the Topix index was up 1.13 per cent or 17.33 points at 1,549.72.