Singapore shares open higher on Wednesday; STI up 0.4% to 3,558.91

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

SINGAPORE - Singapore stocks opened higher on Wednesday (May 9), with the Straits Times Index gaining 0.4 per cent or 15.74 points to 3,558.91 as at 9.03am.

About 48.3 million shares worth $111 million in total changed hands, with gainers outnumbering losers 80 to 47, or about five up for every three down.

The most actively traded counter was Addvalue Tech, which rose $0.001 to $0.040 with 5.8 million shares changing hands. Other actives included Vallianz, flat at $0.013 with 3.8 million shares traded, and Ezion, also flat at $0.109 with 2.49 million shares traded.

Ezion expects to post a net loss for the first quarter of 2018 due to "delays in redeployment of some of the group's assets" while a refinancing exercise was being finalised.

Among active index shares, DBS Group Holdings was trading at $28.98, down $0.01, or 0.03 per cent, and SIA, trading at $11.20, up by $0.05 or 0.45 per cent.

In US markets overnight, Wall Street cut losses to end little changed on Tuesday while energy stocks rallied after US President Donald Trump said the United States would quit the Iran nuclear deal, confirming what many investors had expected. In a televised speech, Mr Trump said the United States would withdraw from a 2015 international agreement designed to deny Teheran the ability to build nuclear weapons, and also reinstate sanctions on Iran.

Tokyo stocks opened lower on Wednesday as investors digest the impact of US President Donald Trump's withdrawal from the Iran nuclear deal and fast-moving diplomacy on North Korea.