SINGAPORE shares rose at the opening bell on Thursday (Mar 7) morning, tracking overnight gains in global markets.
The Straits Times Index (STI) gained 0.1 per cent or 3.03 points to 3,139.17 as at 9.01 am. Across the broader market, gainers outnumbered losers 55 to 28 after 25.7 million securities worth S$27.3 million changed hands.
Seatrium was the most heavily traded counter by volume. It gained 1.1 per cent or S$0.001 to S$0.092 after 9.2 million securities were transacted.
Other companies that were briskly traded included Yangzijiang Shipbuilding, which rose 1.1 per cent or S$0.02 to S$1.80 after 2.3 million shares changed hands, as well as ESR-Logos Reit, which traded flat at S$0.305 with 1.6 million shares transacted.
Banking stocks were mixed in early morning trade. DBS inched up 0.1 per cent or S$0.02 to S$33.61. OCBC traded flat at S$13.19, and UOB also traded flat at S$28.25.
On Wall Street, stocks regained some ground on Wednesday, while traders kept watch on the congressional testimony of Federal Reserve chair Jerome Powell. The Dow Jones Industrial Average rose 0.2 per cent to 38,661.05, while the broad-based S&P 500 Index jumped 0.5 per cent to 5,104.76. The tech-rich Nasdaq Composite Index gained 0.6 per cent to close at 16,031.54.
In Europe, the pan-European Stoxx 600 hit a record high on Wednesday on the back of technology and financial shares, while investors took stock of the congressional testimony a day before the European Central Bank’s policy decision. The Stoxx 600 index climbed 0.4 per cent to 498.21.
