Singapore shares opened higher on Friday, buoyed by positive sentiment from Wall Street after the Dow Jones Industrial Average closed at a record high overnight amid growing optimism over easing tensions in the Middle East.
The benchmark Straits Times Index (STI) rose 10.05 points, or 0.2%, to 5,077.58 as at 9.03am.
Market breadth was slightly negative with 86 gainers against 98 losers, while some 84.9 million shares worth S$131.1 million changed hands in early trade.
The firmer start followed a mixed session on Wall Street, where the Dow surged 1.73% to a record close of 51,561.93, while the S&P 500 gained 0.41%. The Nasdaq slipped 0.09% after weakness in semiconductor stocks triggered by disappointing results from Broadcom.
In Singapore, the three local banks were among key index contributors, with DBS Group Holdings trading at S$64.28, Oversea-Chinese Banking Corporation at S$24.05 and United Overseas Bank at S$38.58.
Elsewhere, Singtel traded at S$4.31, while Genting Singapore stood at S$0.615. Technology-related counters were under pressure, with UMS Holdings falling 3.1% to S$2.53 and AEM Holdings trading at S$9.67.
In the derivatives market, the June FTSE China A50 Index Futures contract stood at 15,709, while Nikkei 225 Index Futures traded at 66,270. MSCI Singapore Index Futures were at 463.85.
