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Singapore stocks rise at Thursday's open after upbeat exports data; STI up 0.2%

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SINGAPORE shares rose on Thursday after the Republic announced a 7.7 per cent growth in non-oil domestic exports for the month of August, higher than analysts had forecast. Read more at The Business Times.

Thai Beverage Public co was trading flat at S$0.61, with four million shares changing hands.

Singapore banks all recorded losses on Thursday morning. DBS fell 0.1 per cent or S$0.02 to S$20.27. OCBC was down 0.1 per cent or S$0.01 to S$8.52, while UOB fell 0.2 per cent or S$0.03 to S$19.27. Following news that UOB had implemented a wage freeze, the trio toldthrough to the end of the year, but are actively managing staff costs.

Other active index counters at Thursday's open included Top Glove, which lost 4 per cent or S$0.12 to S$2.88. Singapore Telecommunications gained 0.5 per cent or S$0.01 to S$2.23. Keppel Corp fell 0.5 per cent or S$0.02 to S$4.23. Its subsidiary Keppel Shipyard has entered into a five-year memorandum of understanding with mainboard-listed offshore oil and gas contractor Dyna-Mac to explore"potential business relationships and opportunities" between the two on a non-exclusive basis, Dyna-Mac said on Wednesday.after a volatile session on Wednesday as the Federal Reserve kept interest rates low and offered a cautious outlook on the economy.

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