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Singapore stocks track Wall Street higher

Wall Street

The Straits Times Index advanced 0.1 per cent or 2.17 points to 3,160.14

Shares in Singapore tracked Wall Street gains, opening marginally higher on Monday. The Straits Times Index (STI) advanced 0.1 per cent or 2.17 points to 3,160.14. There were 102 gainers compared with 40 losers as 71 million securities worth $42.64 million changed hands.

RH PetroGas was the most actively traded counter by volume, with 6.5 million shares worth $670,539 traded. Its shares rose 16.1 per cent.

Another firm which saw high levels of trading was Sembcorp Marine, with 4.2 million shares worth $640,402 changing hands within the first minute of market open. Its shares rose 2.5 per cent.

Index stock CapitaLand was also actively traded, with 1.2 million shares worth $3.39 million traded. The counter rose 0.3 per cent at $2.83.

The firm announced setting up of an innovation fund with a $37.67 million commitment over five years to test sustainability and other high-tech innovations in the property sector. The company will also redeploy interest rate savings from its sustainability-linked loans towards its sustainability initiatives.

DBS, UOB and OCBC were all mixed in early trade. The Development Bank of Singapore (DBS) added 0.1 per cent or $0.023 to $22.42 in early trading, United Overseas Bank (UOB) lost 0.3 per cent or $0.053 to $19.64 and the Oversea-Chinese Banking Corporation (OCBC) fell 0.7 per cent or $0.068 to $9.22.

Elsewhere in Asia, stocks in Tokyo opened higher on Monday, following the lead from the Wall Street as investors awaited a Federal Reserve meeting this week. The benchmark Nikkei 225 index advanced 0.7 per cent or 207.59 points to 29,156.32 in early trade, while the broader Topix index gained 0.6 per cent or 12.19 points to 1,966.21.

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