Singapore shares open higher on Wednesday—STI climbed 1%

SINGAPORE: Singapore shares open higher on Wednesday, Aug 7, following overnight gains in global markets. The Straits Times Index (STI) climbed 1% higher, up 31.29 points to 3,229.73, at 9:01 am, as reported by The Business Times.

The broader market showed a positive trend, with 81 gainers outpacing 30 losers, as 21 million securities worth S$36.5 million were traded.

One of the most actively traded stocks was Genting Singapore, which dropped S$0.005 to S$0.795, with 5.5 million shares exchanged. Offshore oil and gas contractor Dyna-Mac was also heavily traded, which rose 1.9% or S$0.01 to S$0.53.

Singtel shares also rose by 1.1% or S$0.03 to S$2.88.

Banking stocks opened on a positive note. DBS saw a 1% increase, adding S$0.32 to its share price, reaching S$33.07. UOB edged up by 0.3% or S$0.09 to trade at S$29.67. OCBC experienced a 0.7% gain, rising S$0.10 to S$13.94.

Wall Street had a strong performance on Tuesday after three consecutive days of losses. The Dow Jones Industrial Average ended the day up by 0.8%, closing at 38,997.66. The S&P 500 increased by 1% to finish at 5,240.03.

The Nasdaq Composite Index also climbed by 1%, closing at 16,366.85.

In Europe, shares climbed as global markets recovered, with energy and technology stocks leading the way. The Stoxx 600 rose 0.3% higher, closing at 488.44. /TISG

Read also: Singapore stocks rose on Tuesday—STI climbed by 0.8%

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