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Wed, Oct 21, 2020 – 9:53 AM
SINGAPORE shares opened slightly higher on Wednesday after US markets posted modest gains amid renewed hopes for a stimulus package.
The Straits Times Index (STI) rose 0.3% or 6.52 points to 2,535.16 at 9.04 a.m. M.
The winners outnumbered the losers 71 to 41, after 53.3 million securities worth S $ 48.3 million changed hands.
The most active accountant by volume was Sembcorp Marine, which was stable at 14.1 Singapore cents with 9.3 million shares traded.
Other highly traded stocks include Genting Singapore, which fell 1.5% or S $ 0.01 to S $ 0.66 with three million shares changing hands, and Mapletree Logistics Trust (MLT), which fell 1% or S $ 0.02 to S $ 2.06 with 2.2 million units traded. .
MLT requested Wednesday morning to lift the suspension of operations which it called on Tuesday. Its private placement was hedged approximately 5.5 times, including the extension option, while the issue price of its prime offering was set at S $ 1.99 per new unit. MLT is looking to partially finance its proposed acquisitions in Asia with capital fundraising.
Bank stocks rose in early trading. DBS gained 0.5 per cent or S $ 0.10 to S $ 21.40, UOB advanced 0.8 per cent or S $ 0.16 to S $ 19.79, while OCBC was up 0.3 per cent. cent or S $ 0.03 to S $ 8.74.
Other active index accountants include Frasers Centrepoint Trust, which added 0.4 percent or S $ 0.01 to S $ 2.36, and SATS, which gained 1.9% or S $ 0.06 to S $ 3.18.
In the US, Wall Street recovered some of Monday’s losses on Tuesday, closing higher amid renewed signs that lawmakers in Washington may finally agree on a spending package to boost the US economy.
The benchmark Dow Jones Industrial Average index gained 0.4 percent to end at 28,308.79, the broad-based S&P 500 added 0.5 percent to 3,443.12, while the tech-rich Nasdaq rose. 0.3 percent to 11,516.49.
In other parts of Asia, Tokyo shares opened higher on Wednesday. The benchmark Nikkei 225 index gained 0.3 percent or 63.84 points in early trading to 23,630.88, while the Topix index advanced 0.5 percent or 8.68 points to 1,634.42.
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