Singapore shares up at Tuesday’s open; STI gains 0.3%

SINGAPORE stocks were up at the opening bell on Tuesday (Jun 21) following a strong rebound in Europe, while the US market remained closed for a holiday.

Singapore’s Straits Times Index moved up 0.3 per cent or 9.87 points to 3,106.27 as at 9.03 am. Gainers outnumbered losers 86 to 20 after 50.1 million securities worth S$35.1 million changed hands.

The most active counter by volume was Totm Technologies , which rose 7.4 per cent or S$0.011 to S$0.159 with 1.6 million shares changing hands as at 9 am.

Other heavily traded securities included MM2 Asia which had gained 1.7 per cent or S$0.001 to S$0.059 with 1.6 million shares traded, as well as NauticAWT which climbed 8.3 per cent or S$0.001 to S$0.013 with 707,600 shares traded.

Mapletree Commercial Trust , the most actively traded index counter by volume, opened flat at S$1.78 with 827,500 units traded. Meanwhile, Singtel rose 0.4 per cent or S$0.01 to S$2.51 with about half a million shares traded.

The trio of local banks were also up at the market open. DBS was trading up 0.5 per cent or S$0.16 at S$30.07, UOB increased 0.3 per cent or S$0.07 to S$26.91, while OCBC rose 0.4 per cent or S$0.05 to S$11.45.

While the US market was closed over Juneteenth, European stocks ended Monday’s trading session on a strong rebound from last week’s selloff due to recession worries.

The pan-European Stoxx 600 index closed up 1 per cent, though volumes were crimped with US markets closed for a holiday.

In Asia, Tokyo stocks were also up in early trade on Tuesday, as investors remained expectant on Federal Reserve chair Jerome Powell’s address in the Congress later this week.

SEE ALSO

Stocks to watch: Keppel DC Reit, Spackman

The benchmark Nikkei 225 index rose 1.1 per cent or 275.88 points at 26,047.10 while the broader Topix index added 1.2 per cent or 21.78 points at 1,840.72.