SINGAPORE (Oct 31): Resilient earnings from Singapore banks and Wall Street's gains overnight on the US economy's better-than-expected 3Q2014 growth of 3.5% are giving sentiment in the local market a lift.
Gainers currently outnumber decliners by almost 2.5 to one.
The Straits Times Index was 0.3% higher at 3,243.51 at 10:21am (0221 GMT).
"We continue to be positive on US growth outlook and we believe that above-3% growth is achievable in 2H2014," United Overseas Bank economist Alvin Liew said in a note today.
DBS, which released 3Q2014 results before trading started today, gained 0.3% to $18.39.
OCBC rose 0.9% to $9.78 and UOB gained 1.6% to $22.81.
Among lower liners, Tuan Sing Holdings rose 2.4% to 43.5 cents after the property group said its 3Q2014 earnings jumped to $17.5 million from $5.8 million a year earlier as revenue rose 84%.