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Mon, Nov 16, 2020-9: 53 am
SINGAPORE shares rose at the opening bell on Monday, following a bullish close in US markets on Friday.
The Straits Times Index (STI) gained 20.50 points, or 0.8 percent, to 2,731.89 at 9:06 am.
The winners outnumbered the losers from 139 to 35, after 163.7 million securities worth 124 million Singapore dollars changed hands.
Genting Singapore was the most active window by value, jumping 6.5 Singapore cents or 8.7 percent to 81 cents, with 23.2 million shares traded.
The share price rise came despite the integrated resort operator saying in a business update Saturday that it “continues to experience weak demand” at Resorts World Sentosa, even after the property reopened in July amid the Covid-19 pandemic.
Another highly traded counter, Medtecs International, was up six Singapore cents or 6.8 percent to 94.5 cents after 10 million shares changed hands.
The provider of personal protective equipment and hospital services said on Monday that it plans to transfer its listing to the motherboard of the Singapore Stock Exchange. He also announced that the group will be included in the MSCI Singapore Small Cap Index as of November 30, after the market close on that day.
Meanwhile, Singapore Telecommunications gained S $ 0.02 or 0.9 percent to S $ 2.32, with 4.2 million shares traded.
The three local banks rose in the first operations. DBS rose S $ 0.24 or 1% to S $ 24.12, UOB gained S $ 0.25 or 1.2% to S $ 21.72, while OCBC rose S $ 0.08 or 0.8% to S $ 9.66.
After a volatile week, Wall Street ended Friday on a high note, ignoring concerns about the increase in Covid-19 cases and new pandemic restrictions that threaten the recovery of the US economy.
The benchmark Dow Jones Industrial Average index rose 1.4 percent to close at 29,479.81, the broad-based S&P 500 added 1.4 percent to 3,585.15, a new record, while the Nasdaq Composite Index , rich in technology, rose 1 percent to 11,829.29.
In other parts of Asia, Tokyo shares opened higher on Monday. The benchmark Nikkei 225 index rose 1.1 percent or 286.11 points to 25,671.98 in early trading, while the broader Topix index gained 1.2 percent or 19.80 points to 1,723.02 .
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