SINGAPORE shares began Monday (Feb 10) trading in positive territory as markets abroad closed lower on Friday as trade war worries stirred.
As at 9.02 am, the Straits Times Index (STI) was up 1.3 per cent or 48.7 points at 3,910.12. Across the broader market, gainers outnumbered losers 69 to 53 after 40.2 million securities worth S$105.3 million changed hands.
Keppel Infrastructure Trust was the most actively traded counter by volume. It was trading down 1.1 per cent or S$0.005 at S$0.445 with 4.2 million securities transacted.
Other actively traded counters included integrated marine logistics company MarcoPolo Marine which was trading 1.9 per cent or S$0.001 higher at S$0.054, and multinational oil exploration and production Rex International which was trading up 1.2 per cent or S$0.002 at S$0.164.
Banking stocks were trading higher at open. DBS climbed 3.8 per cent or S$1.70 to S$46.38 after the lender posted an 11 per cent year-on-year rise in its net profit for the fourth quarter ended December, at S$2.52 billion, with full-year earnings hitting a record S$11.29 billion.
OCBC was up 1.4 per cent or S$0.24 at S$17.57, and UOB rose 1.2 per cent or S$0.44 to S$37.82.
Wall Street stocks closed lower on Friday as Treasury yields rose on the back of a mixed US payroll report, as all three major US stock indices ended sharply lower in a sell-off driven by a report that US President Donald Trump will declare tariffs soon.
The Dow Jones Industrial Average fell 1 per cent to 44,303.4. The broad-based S&P 500 declined 1 per cent to 6,025.99, and the tech-rich Nasdaq Composite dropped 1.4 per cent to 19,523.4.
Shares in Europe ended Friday lower as trade war worries spiked among investors, with automakers leading declines. The pan-European Stoxx 600 Index closed 0.4 per cent lower at 542.75 points.
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