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Singapore shares rise at Thursday's open; STI up 0.43%

SINGAPORE stocks opened higher on Thursday following gains in the US and the region after the Federal Reserve kept interest rates unchanged.

Singapore’s Straits Times Index rose 0.43 per cent or 13.64 points to 3,186.54 as at 9.03am.

Gainers outnumbered losers 59 to 38, after 36.8 million securities worth S$57.0 million changed hands.

The most active counter was Rex International, which rose 3.0 per cent, or 0.5 Singapore cent to S$0.172 with 12.7 million shares changing hands. Other heavily traded securities included Yangzijiang Shipbuilding which held steady at S$1.08 with 2.3 million shares traded, as well as Keppel Infrastructure Trust which remained unchanged at S$0.545 with 2.1 million shares traded.

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Banking stocks rose in early morning trade. DBS was trading up 1.2 per cent or 29 Singapore cents to S$25.34, UOB was up 1.0 per cent or 25 Singapore cents to S$25.78, while OCBC rose 0.9 per cent, or 10 Singapore cents to S$10.78.

Other active index counters included the Singapore Exchange which was up 2.5 per cent or 22 Singapore cents to S$9.19, and the Jardine Cycle & Carriage, which lost 2.1 per cent or 63 Singapore cents to S$29.21.

In the US, stocks ended higher on the Federal Reserve keeping interest rates unchanged after cutting the previous three meetings, in a bid to maintain economic growth. 

The Dow Jones Industrial Average ended 0.1 per cent higher at 27,911.30. The S&P 500 gained 0.3 per cent to 3,141.63, while the Nasdaq Composite Index rose 0.4 per cent to 8,654.05.

Elsewhere in Asia, Tokyo stocks also opened higher on Thursday. In early trade, the Nikkei 225 index rose 0.24 per cent to 23,447.53, while the Topix index edged up 0.24 per cent to 1,718.99.