Singapore shares rise at Wednesday's open; STI up 1.61% to 3,083.05

SINGAPORE stocks opened higher on Wednesday, with the Straits Times Index gaining 1.61 per cent or 48.74 points to 3,083.05 as at 9.02am after US stocks rebounded overnight.

Gainers outnumbered losers 122 to 22, or about 11 securities up for every two down, after 51.0 million securities worth S$89.0 million changed hands.

Among the most heavily traded by volume, Nico Steel Holdings increased 20.0 per cent or S$0.001 to S$0.006 with 6.0 million shares traded. Rex International Holding headed up 1.9 per cent or S$0.002 to S$0.109 with 2.8 million shares traded.

Financials led active index stocks, with DBS Group Holdings up 1.9 per cent or S$0.47 to S$24.71. OCBC Bank gained 2.2 per cent or S$0.23 to S$10.81; and United Overseas Bank was up 1.7 per cent or S$0.44 to S$25.77.

Singapore's non-oil domestic exports (NODX) grew 8.3 per cent in September, according to Enterprise Singapore data released on Wednesday morning. The expansion was below economist expectations of 11.1 per cent, but improved on August's 5 per cent growth.