Singapore stocks open stronger on Tuesday; STI up 0.4%

SINGAPORE shares began Tuesday (Mar 12) with strong gains after global equities ended mixed overnight.  

As at 9.01 am, the Straits Times Index (STI) advanced 13.12 points or 0.4 per cent to 3,151.54. Across the broader market, gainers outnumbered losers 58 to 31 after 18 million securities worth S$30.4 million changed hands.

Index counter Singtel was the most actively traded in terms of volume, rising S$0.02 or 0.8 per cent to reach S$2.40 with 5.8 million securities transacted.

Seatrium lost S$0.001 or 1.1 per cent to S$0.09, and entertainment company Vividthree added S$0.001 or 3.7 per cent to S$0.028 amid heavy volumes.

The local banks were all trading higher at the open. DBS rose S$0.20 or 0.6 per cent to S$33.80. UOB inched up S$0.03 or 0.1 per cent to S$28.30, and OCBC climbed S$0.07 or 0.5 per cent to S$13.23.

US stocks finished largely flat on Monday ahead of fresh consumer inflation data to be released on the following day.

The Dow Jones Industrial Average was the only major Wall Street index to gain, rising 0.1 per cent to 38,769.66. The broad-based S&P 500 fell 0.1 per cent to 5,117.94, while the tech-rich Nasdaq lost 0.4 per cent to finish at 16,019.27.

In Europe, equities faced a steep sell-off in the technology sector on Monday.

The pan-European Stoxx 600 came off its all-time high hit in the prior session to end 0.4 per cent lower at 501.49.