Singapore shares opened higher on Wednesday (Jun 14), following significant gains in global markets on mild US inflation data and positive sentiments of a possible pause in interest rate hikes.
$FTSE Singapore Straits Time Index (.STI.SG)$wasup 8.36 points or 0.3 per centto 3,197.76. Across the broader market, gainers outnumbered losers 80 to 32 after 73.1 million securities worth S$61.4 million changed hands.
$Seatrium (S51.SG)$was the top-traded counter by volume with 27 million shares transacted, although itremained flatat S$0.125.
$ThaiBev (Y92.SG)$was also briskly traded,declining 0.9 per centor S$0.005 to S$0.57.
$Koh Eco (5HV.SG)$rose 6.1 per centor S$0.002 to S$0.035, after news that its subsidiary and joint venture partner LBD Engineering obtained a S$186 million contract from the Housing and Development Board.
All three major US indices closed higher on Tuesday, as cooling inflation data raised expectations that the Federal Reserve would not raise the interest rate for the first time in more than a year.