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Singapore shares open marginally lower on Tuesday

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After a short-covering bounce on Thursday morning that gave a mistaken semblance of stability because it added 30 points to the Straits Times Index (STI), pressure returned in force during the afternoon session, leaving the STI 27.07 points worse off at 2,532.70 at 5pm.

SINGAPORE shares opened marginally lower on Tuesday with the Straits Times Index down by 1.8 points to 2,591.2, after Tokyo opened lower and European shares retreated overnight.

Trading is expected to remain subdued in face of bearish crude oil prices, following the lifting of sanctions against major producer Iran and with the focus being shifted to economic data due out of China.

At 9.02am, some 33.1 million Singapore shares worth S$54.9 million changed hands. Losers outpaced gainers 64 to 51.

Among the most active stocks, notable stocks that bucked the trend included embattled Koyo International, which saw a huge rebound of 28.6 per cent to 7.2 cents. Yangzijiang Shipbuilding was up 1.1 per cent to 89 cents and CSC was up 8.3 per cent to 1.3 cents.

Stocks that fell included Keppel Corp, down 0.2 per cent to S$4.84, and Ezra, down 1.6 per cent to 6.3 cents.

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