Singapore's STI +0.9%; Playing catch-up: OCBC

Singapore's STI is up 0.9% at 3,301.12, remaining buoyant, with just four stocks in negative territory, even as European stocks open a tad lower.

"Markets here are playing a little bit of catch-up because we've been away from an extended Chinese New Year holiday," says Selena Ling, head of treasury research at OCBC.

Volume is 7.59 billion shares valued at $1.53 billion, skewed heavily toward penny stocks. In the broader market, gainers top losers nearly three to one. StarHub (CC3.SG) is up 2.8% at $4.04 after falling 2.0% Friday after reporting fourth-quarter net profit fell 5% on year to $87.9 million.

Among China-exposed plays, CapitaMalls Asia (JS8.SG) is up 1.9% at $2.14, while HK Land (H78.SG) is up 3.2% at US$8.04.