Singapore stocks: STI resumes Wednesday afternoon at 3,284.07, up 1.4% on day

SINGAPORE stocks continued to see gains as trading resumed on Wednesday afternoon,with the Straits Times Index gaining 1.40 per cent or 45.34 points to 3,284.07 as at 1.08pm after a strong opening in the morning tracking a US stock rally overnight.

On the Singapore bourse, gainers outnumbered losers 246 to 100, or about five securities up for every two down, after 1.02 billion securities worth S$699.4 million changed hands.

Among the most heavily traded by volume, Rex International Holding headed up 6 per cent or S$0.004 to S$0.071 with 23.0 million shares traded. Genting Singapore advanced 2.8 per cent or S$0.025 to S$0.91 with 19.0 million shares traded. Thai Beverage Public Co headed up 1.8 per cent or S$0.015 to S$0.84 with 17.2 million shares traded.

Banking stocks were also trading positively, with DBS Group Holdings, up 2.8 per cent or S$0.69 to S$25.49, following OCBC Investment Research's upgrade to a "buy" on Wednesday morning. It was trading as high as S$25.55 at 10.54am.

Meanwhile, United Overseas Bank was up 2.0 per cent or S$0.51 to S$26.11; and OCBC Bank was up 1.7 per cent or S$0.19 to S$11.14.

Other active index stocks included Singtel, down 0.3 per cent or S$0.01 to S$3.36; Yangzijiang Shipbuilding Holdings, up 1.4 per cent or S$0.02 to S$1.49.