Singapore shares rise at Friday's open; STI up 0.3% to 3,280.03

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way. ST PHOTO: KELVIN CHNG

SINGAPORE - Singapore stocks opened stronger on Friday (May 10), with the Straits Times Index heading up 0.32 per cent, or 10.33 points to 3,280.03 as at 9am, even as Wall Street stocks fell overnight.

On the Singapore bourse, gainers outnumbered losers 81 to 33, or about five securities up for every two down, after 36.9 million securities worth $92.1 million changed hands.

Among the most heavily traded by volume, ComfortDelGro Corp stayed unchanged at $2.56, with 3.3 million shares traded. Ascendas Reit also held firm to $2.92 with 2.9 million shares traded.

Other active stocks included First Resources, which rose 1.2 per cent, or two cents to $1.69.

Banking counters also rose in the early morning trade with DBS gaining 0.5 per cent or $0.13 to $26.73; UOB up 0.7 per cent or $0.17 to $25.65; and OCBC rising 1.2 per cent or $0.13 to $11.44.

This comes after OCBC on Friday morning posted an 11 per cent rise in first quarter net profit to $1.23 billion for the three months ended March 31.

The last of the three local banks to report its Q1 results, OCBC said this was underpinned by growth across its banking, wealth management and insurance franchise.