Singapore stocks open higher on Wednesday
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.
$FTSE Singapore Straits Time Index (.STI.SG)$ was up 8.36 points or 0.3 per cent to 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 it remained flat at S$0.125.
$Koh Eco (5HV.SG)$ rose 6.1 per cent or 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.
$Dow Jones Industrial Average (.DJI.US)$ was up 0.4 per cent or 145.79 points to 34,212.12. The broad-based $S&P 500 Index (.SPX.US)$ rose 0.7 per cent or 30.08 points to 4,369.01, while the tech-rich $Nasdaq Composite Index (.IXIC.US)$ gained 0.8 per cent or 111.4 points to 13,573.32.
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