SINGAPORE stocks opened higher on Tuesday (Jul 23) following overnight gains in overseas markets after a shaky end last week.
The Straits Times Index (STI) headed up 0.5 per cent or 18.12 points to 3,455.38 as at 9.03 am. Across the broader market, gainers outnumbered losers 87 to 39, after 47.5 million securities worth S$60.5 million changed hands.
The most active counter by volume was Thai Beverage, which gained 1 per cent or S$0.005 to S$0.50, with 9.4 million shares traded.
Other heavily traded securities included Seatrium, which was up 2.1 per cent or S$0.03 at S$1.48 with 3.9 million shares traded, and Prime US Real Estate Investment Trust, which added 4.3 per cent or US$0.008 to US$0.194 with 2.8 million units traded.
On Tuesday, Seatrium announced it obtained S$180 million worth of contracts to repair and upgrade various types of ships, such as offshore vessels, ferries and tankers.
Banking stocks rose in early morning trade. DBS was trading 0.9 per cent or S$0.32 higher at S$36.52, UOB increased 0.7 per cent or S$0.24 to S$32.81, while OCBC advanced 0.5 per cent or S$0.07 to S$15.12.
In the US, shares finished higher on Monday, supported by a rebound from semiconductor plays. The Dow Jones Industrial Average closed 0.3 per cent higher at 40,415.44. Meanwhile, the broad-based S&P 500 added 1.1 per cent to 5,564.41, while the tech-rich Nasdaq Composite Index rose 1.6 per cent to 18,007.57.
European shares, meanwhile, closed Monday higher, led by technology and financial counters. The pan-European Stoxx 600 ended 0.9 per cent higher at 514.79 following a five-day losing run.
