Singapore shares opened almost unchanged on Tuesday; STIs increased by 0.02%

SINGAPORE shares opened little changed on Tuesday (Oct 29) after US and European indices rose overnight.

As of 9.01am, the Straits Times Index (STI) was up 0.71 points, or 0.02 percent, at 3,584.79. In the broader market, gainers outnumbered losers 60 to 56 after 26.8 million securities worth S$43.3 million changed hands.

IT service provider SinoCloud Group was the most actively traded counter by volume. It rose 5.9 per cent or S$0.001 to S$0.018 after 2.8 million shares changed hands.

Other actively trading stalls include an agri-food company. Japfawhich rose 13.9 per cent or S$0.05 to S$0.41, and a nanotechnology solutions provider. Nanofilm, which rose 4.9 per cent or S$0.04 to S$0.865.

Banking stocks rose at the open. DBS increased by 0.2 percent, or S$0.07, to S$39.15, OCBC rose 0.1 per cent or S$0.01 to S$15.28, while UOB added 0.2 per cent or S$0.05 to S$32.46.

Wall Street Stocks got up on Monday at the start of a tough week for reports and economic data, while markets also eye the finale of the US presidential campaign.

As markets watch earnings reports from major tech companies this week, including Apple, Amazon and Facebook parent Meta, the Dow Jones Industrial Average rose 0.7% to 42,387.57. The broad-based S&P 500 added 0.3% to 5,823.52, and the tech-heavy Nasdaq Composite also rose 0.3% to 18,567.19.

In Europe it is The main stock index closed higher on Monday as gains in most sectors outweighed weakness in energy stocks amid falling oil prices and investors looked for major economic data and big earnings from U.S. technology companies scheduled for later in the week. The pan-European Stoxx 600 index closed 0.4% higher at 520.95.