SINGAPORE share prices opened higher on Friday, with the Straits Times Index up 8.59 points or 0.25 per cent to 3,440.18 as at 9.05 am.
This is despite tepid losses in the US markets. The Dow Jones Industrial Average fell 40.31 points (0.23 per cent) to 17,678.23 after falling below 17,600 earlier in the session. The broad-based S&P 500 dropped 4.90 points (0.24 per cent) to 2,056.15, while the tech-rich Nasdaq Composite Index shed 13.16 points (0.27 per cent) at 4,863.36.
Top gainers in early morning trade include UOB, DBS and City Developments Limited.
Some 122.9 million shares worth S$93.6 million changed hands, with gainers outnumbering losers 90 to 54.
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The Straits Times Index on Thursday rose 12.57 points to 3,431.59, possibly thanks to early quarter-ending window dressing as well as expectations of a Wall Street rebound on Thursday after a steep Wednesday plunge. The fall came despite weakness throughout the region and a soft opening for Europe.
Not unexpectedly, the three banks were among the index's top gainers, though there were also notable contributions from Keppel Corp, CapitaLand and Singtel. Turnover at 1.5 billion units worth S$1.2 billion compared well with Wednesday's feeble S$950.6 million. The broad market excluding warrants managed 249 rises versus 160 falls.
