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SINGAPORE shares climbed at the opening bell on Tuesday (Feb 27) morning, despite overnight losses in global markets.
The Straits Times Index (STI) gained 0.1 per cent or 2.91 points to 3,174.03 as at 9.01 am. Across the broader market, gainers outnumbered losers 56 to 47 after 76.9 million securities worth S$37.9 million changed hands.
Seatrium was the most heavily traded counter by volume at the time. It traded flat at S$0.091 after 44.7 million securities were transacted.
Other companies that were briskly traded included Thai Beverage, which fell 1 per cent or S$0.005 to S$0.51, as well as Golden Agri-Resources, which was down 1.8 per cent or S$0.005 to S$0.27.
Banking stocks traded mixed in early morning trade. DBS rose 0.6 per cent or S$0.20 to S$33.70. OCBC declined 0.2 per cent or S$0.02 to S$13.31, while UOB gained 0.6 per cent or S$0.16 to S$28.34.
On Wall Street, stocks dipped on Monday ahead of new inflation data expected to influence US monetary policy. The Dow Jones Industrial Average finished down 0.2 per cent at 39,069.23, down from a record high. The broad-based S&P 500 dropped 0.4 per cent to 5,069.53, also declining from a record, while the tech-rich Nasdaq Composite Index slipped 0.1 per cent to 15,976.25.
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In Europe, the pan-European Stoxx 600 also fell on Monday, led by miners, while investors waited for clues on the timing of interest rate cuts by major central banks. The Stoxx 600 closed 0.4 per cent lower at 495.43.
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