Singapore shares started Tuesday (May 28) on a stronger note, following overnight gains in European stocks. The Straits Times Index (STI) rose 0.3%, or 9.02 points, to 3,327.47 at 9:02 a.m. Across the broader market, gainers outnumbered losers 65 to 38. A total of 41.8 million securities worth S$54.9 million changed hands.

Among the most actively traded counters, Seatrium held steady at S$1.72 with 4.8 million shares changing hands. Other heavily traded securities included Singtel, which rose 0.8% or S$0.02 to S$2.45, with 3.8 million shares transacted, and Yangzijiang Shipbuilding, which gained 2.1% or S$0.04 to S$1.97, with three million shares traded.

Banking stocks were mixed in early morning trade. DBS lost 0.1% or S$0.04 to S$35.81, while UOB advanced 0.1% or S$0.03 to S$30.53. OCBC gained 0.2% or S$0.03 to S$14.47.

US markets were closed for Memorial Day on Monday.

In Europe, shares closed higher on Monday amid hints of potential interest rate cuts by the European Central Bank. The pan-European Stoxx 600 index closed up 0.3%, nearing an all-time high reached earlier this month.