SINGAPORE shares started trading in the positive territory on Wednesday (Aug 7) mirroring overnight gains in global markets.
As at 9.01 am, the Straits Times Index (STI) opened 1 per cent or 31.29 points higher at 3,229.73. Across the broader market, gainers outnumbered losers 81 to 30 after 21 million securities worth S$36.5 million changed hands.
One of the most actively traded counters by volume was Genting Singapore, which lost 0.6 per cent or S$0.005 to S$0.795, with 5.5 million shares changing hands.
Other heavily traded securities included offshore oil and gas contractor Dyna-Mac, which gained 1.9 per cent or S$0.01 to S$0.53. Shares of Singtel also rose 1.1 per cent or S$0.03 to S$2.88.
Banking stocks were trading up at the open. DBS increased 1 per cent or S$0.32 to S$33.07. UOB inched up 0.3 per cent or S$0.09 to S$29.67. OCBC gained 0.7 per cent or S$0.10 to S$13.94.
Wall Street stocks rebounded on Tuesday after three straight days of losses. The Dow Jones Industrial Average finished up 0.8 per cent at 38,997.66.
The broad-based S&P 500 gained 1 per cent to 5,240.03, while the tech-rich Nasdaq Composite Index also advanced 1 per cent to 16,366.85.
In Europe, shares rose as global markets recovered and energy and technology stocks logged gains after upbeat earnings. The Stoxx 600 closed 0.3 per cent higher at 488.44.
