Singapore's STI edges higher on Wednesday morning

SINGAPORE shares opened higher on Wednesday with the Straits Times Index (STI) up 5.09 points, or 0.15 per cent, to 3,345.84 despite losses on both the US and European markets.

Activity on the Singapore market will be closely watched after the STI fell 51.36 points to 3,340.75 on Tuesday, taking it into the red for the year so far. Traders had attributed the plunge in the index to months of poor performance.

The most active stocks in play on Wednesday early morning are Singtel, and Noble, which continued their slide, and Sino Construction, which gained 11.8 per cent on news that its micro power plants in Korea had received approval to start operations.

As at 9.04am, 100.4 million shares valued at S$260.3 million changed hands, with gainers outnumbering losers 74 to 68.