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Singapore stocks build on earlier gains; STI rises 0.5% to 3,114.55 on Tuesday afternoon

SINGAPORE stocks extended gains to resume trading in positive territory on Tuesday afternoon, with the Straits Times Index advancing 0.5 per cent, or 15.07 points to 3,114.55 as at 1pm. 

Gainers outnumbered losers 173 to 107, after about 452.3 million shares worth S$391.9 million changed hands. 

Among the most heavily traded by volume, Golden Agri-Resources was up 2.4 per cent, or 0.5 Singapore cent to 21.5 cents, with 31 million shares traded, while Yangzijiang Shipbuilding added 1.6 per cent, or 1.5 cents to 96.5 cents, with 16.2 million shares traded. 

Banking stocks were also in the green by the afternoon trade - DBS rose 0.6 per cent, or 14 Singapore cents to S$24.82, OCBC Bank gained 0.2 per cent, or two cents to S$10.70, and United Overseas Bank advanced 1.5 per cent, or 38 cents to S$25.70. 

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Other active index stocks included Ascendas Reit which surged 1.6 per cent, or five cents to S$3.14, and CapitaLand Mall Trust which edged up 1.5 per cent, or four cents to S$2.65.

Elsewhere, Asian equities also trended higher on Tuesday, as investors focused on the resumption of trade talks between the world's two largest economies this week, though hopes for success are being tempered by mixed messages from both sides.

Japan's Topix rose 0.8 per cent as of 12.31pm, as did South Korea's Kospi index, while Australian stocks inched up 0.4 per cent.

China stocks also ticked higher as markets reopened after a week-long holiday, with a dim services sector survey reinforcing hopes that Beijing will roll out more stimulus measures.

The Shanghai Composite Index gained 0.8 per cent, while Hong Kong's Hang Seng rose 0.7 per cent.