The Business Times

Singapore stocks rise at Wednesday's open, tracking Wall Street rebound; STI up 0.6%

Published Wed, Oct 6, 2021 · 09:27 AM

SINGAPORE shares rose in early trade on Wednesday as Wall Street stocks rebounded on the back of positive data that showed the US services sector grew slightly more than expected in September.

The Straits Times Index (STI) rose 0.6 per cent or 17.22 points to 3,085.34 as at 9.01am.

Gainers outnumbered losers 104 to 20, after 89.9 million securities worth S$66.7 million changed hands.

Ntegrator International was the most actively traded counter by volume on Wednesday morning, with 13 million shares changing hands as at 9.01am. Its share price rose 30.8 per cent or 0.4 Singapore cent to 1.7 cents.

Among index counters, CapitaLand Integrated Commercial Trust was the top gainer on Wednesday morning, rising 1.5 per cent or S$0.03 to S$2.09 as at 9.01am.

LifeBrandz was also among the top five actively traded counters in terms of volume. Its share price slumped by 0.1 Singapore cent to 0.4 cent as at 9.01am.

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The trio of local banks were all higher in early trade. DBS was up 0.4 per cent or S$0.13 to S$30.36, UOB rose 0.5 per cent or S$0.13 to S$26.08, while OCBC inched up 0.6 per cent or S$0.07 to S$11.57 as at 9.01am.

In the US, stocks rose on Tuesday as tech shares saw a better session.

The benchmark Dow Jones Industrial Average finished at 34,314.67, up 0.9 per cent, while the broad-based S&P 500 added 1.1 per cent at 4,345.73. Of the major indices, the biggest gainer was the tech-rich Nasdaq Composite Index, which advanced 1.3 per cent to 14,433.83.

European stocks logged their best performance since July 21 following a 3.5 per cent jump in European banks as well as a rally in beaten down technology companies, helped by the upward trend in Wall Street.

The Europe-wide Stoxx 600 index ended up 1.2 per cent with all major sectors in the black.

Elsewhere in Asia, Tokyo's benchmark Nikkei index followed the global upward trend and opened higher on Wednesday.

The Nikkei 225 index rose 0.7 per cent, or 200.81 points, to 28,022.93, while the broader Topix index advanced 0.8 per cent, or 14.78 points, to 1,962.53.

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