Singapore shares edge up at open despite Q2 GDP plunge; STI up 0.3%

, in a twist that that caught many off-guard.

Banking stocks were up in the morning session while trading on a cum-dividend basis. DBS gained S$0.06 or 0.3 per cent to S$20.66, United Overseas Bank added S$0.02 or 0.1 per cent to S$19.60 and OCBC Bank advanced S$0.06 or 0.7 per cent to S$8.78. Other active securities included Vicplas International which shot up S$0.05 or 12.8 per cent to S$0.44, while Venture Corp gained S$0.56 or 3 per cent to S$19.40., up from S$0.20 a year earlier, despite a 28.2 per cent fall in its net profit to S$130.5 million for the six months ended June.as investors eye uncertain data and an elusive deal on further economic stimulus.

At the closing bell, the tech-rich Nasdaq was down 0.4 per cent to 10,968.36, but the Dow Jones Industrial Average gained 1.3 per cent to end at 27,791.44 and the broad-based S&P 500 rose 0.3 per cent to finish at 3,360.47. , with the European Stoxx 600 index closing the session up 0.3 per cent. This comes after growth-sensitive cyclical stocks got a boost from improving economic data out of China, though renewed US-China tensions hit technology shares.tracking Wall Street gains. The benchmark Nikkei 225 index climbed 0.8 per cent, while the broader Topix index rose 0.9 per cent in early trade.For daily updates on weekdays and specially selected content for the weekend.

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