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Singapore shares rise at Tuesday's open tracking Wall St rally; STI up 0.36%

SINGAPORE stocks entered Tuesday’s morning in positive territory, recovering from the previous day’s mild losses, after an overnight surge on Wall Street amid upbeat trade news.

Singapore’s Straits Times Index headed up 0.36 per cent or 11.68 points to 3,232.31 as at 9.02am.

Gainers outnumbered losers 82 to 26, after 55.2 million securities worth S$44.7 million changed hands.

Among the most active counters by volume was Rex International, which gained 3.33 per cent or 0.6 Singapore cent to 18.6 cents on 7.3 million shares traded as at 9.01am. Yangzijiang Shipbuilding rose 0.96 per cent or S$0.01 to S$1.05 after 2.7 million shares changed hands, while Suntec Reit increased 0.55 per cent or S$0.01 to S$1.84 on 1.8 million shares traded.

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Banking stocks all rose in early morning trade. DBS was trading up 0.2 per cent or S$0.05 at S$25.70 as at 9.01am, and UOB was up 0.31 per cent or S$0.08 to S$26.20. OCBC Bank gained 0.46 per cent or S$0.05 to S$11.01, after its chief executive said in an interview that the lender is well-placed to take on Chinese tech giants that may join Singapore’s digital banking market.

Other active index counters on Tuesday morning included ComfortDelGro which moved up 2.14 per cent or S$0.05 to S$2.39, and Ascendas Reit which rose 1.03 per cent or S$0.03 to S$2.95 as at 9.01am.

In the US, stocks had climbed to record levels at Monday’s close, boosted by revived hopes for US-China trade progress as well as major corporate merger announcements.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday, with the benchmark Nikkei 225 index up 0.62 per cent, while the broader Topix index rose 0.54 per cent.