Singapore shares open higher on Tuesday; STI up 0.42% to 3,133.02

The Singapore Exchange Centre in Shenton Way. PHOTO: ST FILE

SINGAPORE - Singapore shares tracked positive US and Europe markets overnight when trading began on Tuesday (Oct 1), with the Straits Times Index gaining 13.03 points or 0.42 per cent to 3,133.02 as at 9.03am.

About 26.4 million shares worth about $47.3 million changed hands, which worked out to an average unit price of about $1.79 per share.

Gainers outnumbered losers 73 to 32.

The most actively traded security was Y Ventures, which traded up $0.002 or 2.2 per cent to $0.093 with 2.1 million shares changing hands. Other actives included Rex International and Suntec Reit.

Among financials, all three local banks gained ground with DBS advancing $0.12 or 0.5 per cent to $25.12, OCBC shares gaining $0.03 or 0.3 per cent to $10.89 and UOB up $0.05 or 0.2 per cent to $25.71.

Among other index stocks, Singtel gained $0.02 or 0.7 per cent to $3.12 and Keppel Corp was up $0.02 or 0.3 per cent to $5.95.

US stocks finished a volatile quarter on a positive note on Monday.

Analysts cited better-than-expected Chinese manufacturing data, as well as comments from Trump administration officials that downplayed the likelihood of potential new US restrictions on Chinese investment.

Stocks had fallen Friday following reports the White House was weighing a plan to delist Chinese companies from US stock markets.

The broad-based S&P 500 finished at 2,976.74, up 0.5 per cent for the session and 1.2 per cent for the quarter. The Dow Jones Industrial Average also finished modestly higher for the third quarter, while the Nasdaq Composite edged lower.

European shares also rose on Monday, boosted by positive movement on Wall Street, while exporters were helped by a decline in the value of the euro.

The benchmark European index closed 0.4 per cent higher and clocked its best monthly gain since June. It rose nearly 2 per cent in the third quarter to bring year-to-date gains to around 16 per cent.

Elsewhere in Asia, Tokyo stocks opened higher with the benchmark Nikkei 225 index rising 0.36 per cent or 78.55 points to 21,834.39 in early trade while the Topix was up 0.50 per cent or 7.93 points at 1,595.73.

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