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Singapore shares open 0.2% down on Thursday

SINGAPORE stocks opened 0.2 per cent lower on Thursday, with the Straits Times Index losing 5.76 points to 3,433.23 as at 9.03am.

The STI fell as a selloff in technology shares from Apple to dragged down major US indices overnight.

About 190.3 million shares worth S$559.2 million in total changed hands, which worked out to an average unit price of S$2.94 per share.

The most actively traded counter was No Signboard, whose debut on the Singapore Exchange was flat at S$0.32 with 20.8 million shares changing hands.

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Cromwell European Reit, whose public offer about 3.1 times subscribed, will start trading on the Singapore Exchange at 2pm on Thursday.

Other actives included Singtel, which was trading at S$3.73, down 0.27 per cent, and Genting Singapore, which was trading at S$1.34, down 1.47 per cent.

The field was roughly evenly matched, with 60 gainers to 61 losers.

Japan's benchmarks edged lower and Australian shares slid in early trading, dragged by lenders after the government announced an inquiry into banks.

In US markets, the Nasdaq Composite dropped 1.27 per cent as investors shifted to financials and other sectors even as the S&P 500 was almost flat and the Dow Jones Industrial Average gained 0.44 per cent.

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