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Singapore stocks rise at Tuesday's open; STI up 0.2%

SINGAPORE shares rose on Tuesday, with the benchmark Straits Times Index (STI) gaining about 0.2 per cent or 5.41 points to 2,487.96 as at 9.05am.

Gainers outnumbered losers 95 to 29, after 95 million securities worth S$47.3 million changed hands.

The most active stock by volume was Sembcorp Marine, which moved up by 1.9 per cent or 0.3 Singapore cent to 16.5 cents after 28.3 million shares changed hands as at 9.05am. The counter saw heavy trading on Monday as the offshore and marine engineering group completed its S$2.1 billion recapitalisation exercise.

Also heavily traded was Singapore Telecommunications, which lost 0.5 per cent or S$0.01 to S$2.22, with 2.4 million shares traded, while Genting Singapore gained 1.5 per cent or S$0.01 to S$0.68, with 1.2 million shares traded.

Singapore banks all recorded gains on Tuesday morning. DBS rose 0.1 per cent or S$0.01 to S$20.47, while OCBC edged up 0.1 per cent or S$0.01 to S$8.57. UOB gained 0.4 per cent or S$0.08 to S$19.45.

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Other active index counters at Tuesday's open included Keppel Corporation, which fell 0.5 per cent or S$0.02 to S$4.14. Wilmar International fell 0.7 per cent or S$0.03 to S$4.12, while the Singapore Exchange gained 0.1 per cent or S$0.01 to S$8.53

In the US, Wall Street enjoyed solid gains on Monday, buoyed by coronavirus vaccine hopes and big-ticket deals. Trials on one of the most advanced vaccines resumed at the weekend after pausing when a volunteer fell ill.

Europe's Stoxx 600 inched higher on Monday as surging travel and technology stocks helped counter losses in the energy sector, with investors focused on Brexit-related developments and central bank actions later this week.

Elsewhere in Asia, Tokyo stocks opened lower on Tuesday as investors locked in profits after three days of rallies with investors digesting the new government to be formed later this week.

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