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Singapore: STI down 1.44 points, tracing slips in Europe, US markets

SINGAPORE share prices opened lower on Wednesday with the Straits Times Index (STI) down 1.44 points to 3,420.67 at 9.06am, taking cues from slips in European and US equity markets.

Top gainers in early trading include DBS and ComfortDelgro. DBS is set to gain the most among its peers from higher interest rates, given its strong deposit base and that most of its home loans are pegged to a floating rate. ComfortDelgro is also expected to see an earnings boost from bus reforms next year, said a Deutsche Bank report this week.

Some 33.5 million shares worth S$59.4 million changed hands, with losers outnumbering gainers 81 to 72.