SINGAPORE shares rose in early trade on Thursday (Feb 2) after US stocks ended higher overnight.

The Straits Times Index (STI) rose 0.1 per cent or 2.97 points to 3,380.62 as at 9.01 am. Gainers outnumbered losers 86 to 33 after 48.8 million securities worth S$69.2 million changed hands.

Shares of The Place Holdings : E27 0% were among the most actively traded securities on Thursday morning, with 5.7 million shares changing hands as at 9.01 am. The media company rose 6.7 per cent or S$0.001 to S$0.016.

Index counter Yangzijiang Shipbuilding : BS6 +0.77% was also heavily traded. It was up S$0.02 or 1.5 per cent to S$1.32 after four million of its shares changed hands as at 9.01 am.

Units of Suntec Real Estate Investment Trust : T82U +0.72% were also actively traded in terms of volume. The trust was up 1.4 per cent or S$0.02 to S$1.41 as at 9.01 am.

The trio of local banks were trading mixed on Thursday morning. DBS : D05 -1.51% was down 0.5 per cent or S$0.18 to S$35.63. Meanwhile, OCBC : O39 -0.77% rose 0.4 per cent or S$0.05 to S$13.03, while UOB : U11 -0.27% gained 0.5 per cent or S$0.14 to S$29.87 as at 9.01 am.

Wall Street stocks finished higher on Wednesday after the Federal Reserve enacted a smaller interest rate hike, pointing to progress in its fight against inflation.

The Dow Jones Industrial Average rose less than 0.1 per cent to 34,092.96. The broad-based S&P 500 advanced 1.1 per cent to 4,119.21, while the tech-rich Nasdaq Composite Index jumped 2 per cent to 11,816.32.

European shares were muted on Wednesday at closing, ahead of a widely anticipated interest rate hike and accompanying commentary from the US Federal Reserve that would give more insight into the central bank’s monetary tightening plans.

The pan-European Stoxx 600 cut early gains and was flat at the close, finishing at 453.09.


(Source : BUSINESS TIMES) , all rights reserved by original source.