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Tue, September 29, 2020-9: 43 am
SINGAPORE shares opened higher on Tuesday after Wall Street closed strongly higher overnight.
The Singapore Straits Times Index (STI) gained 0.5 percent or 13.27 points to 2,496.28 at 9.04 a.m. M.
The winners outnumbered the losers 92 to 31, after 50.7 million securities worth S $ 54.4 million changed hands.
Accordia Golf Trust was the most traded security by volume in the morning, unchanged at S $ 0.73 after 5.3 million units changed hands.
Keppel Infrastructure Trust also saw strong trading, rising 0.5 Singapore cents or 0.9 percent to 55 cents with 1.7 million units changing hands.
Meanwhile, the Frasers Centrepoint Trust lost S $ 0.14 or 5.6 percent to S $ 2.38. It said on Tuesday that its private placement had closed approximately 2.8 times underwritten and priced at the lower end of the range, without the extension option being exercised.
The three local moneylenders gained ground in the first deals. Fitch Ratings affirmed its AA- ratings on Singapore banks on Monday and removed the trio from the negative rating.
DBS rose S $ 0.15 or 0.7% to S $ 20.37, OCBC rose S $ 0.08 or 0.9% to S $ 8.60, while UOB rose S $ 0.19 or 1% to S $ 19.47.
In the US, stocks rallied to close sharply higher on Monday as investors searched for bargains among sectors hardest hit by the coronavirus recession.
The Dow Jones Industrial Average rose 410.1 points or 1.51% to 27,584.06, the S&P 500 gained 53.14 points or 1.61% to 3,351.6 and the Nasdaq Composite added 203.96 points or 1.87 % to 11,117.53.
Elsewhere in Asia, Japan’s Topix Index fell 0.9 percent on Tuesday, while Australia’s S & P / ASX 200 Index gained 0.6 percent and South Korea’s Kospi Index rose 0.6 percent. 0.9 percent.
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