Singapore shares down 0.57% on Wednesday

SINGAPORE stocks opened 0.57 per cent lower on Wednesday, with the Straits Times Index falling 18.87 points to 3,276.06 as at 9.05am.

This comes as stocks ended flat on Wall Street; US stocks finished little changed on Tuesday as solid retail sales data offset share price declines from some retail chains that reported disappointing earnings. Tokyo stocks also opened flat on Wednesday after strong gains the previous day .

On the Singapore bourse, about 60.9 million shares worth S$66.4 million in total changed hands. Losers outnumbered gainers 82 to 58.

Among the highest value traded stocks were the three local banks. DBS fell 12 Singapore cents to S$20.66; OCBC lost 10 cents to S$11.11; UOB dropped 20 cents to S$23.76.

The Business Times on Wednesday reported that Singapore banks' exposure to the oil and gas sector is back in the spotlight after the surprise suspension of Ezion Holdings and heavy quarterly losses - totalling almost S$1 billion - suffered by Nam Cheong and Marco Polo Marine.