Singapore stocks open lower on Wednesday; STI down 0.1%
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SINGAPORE shares opened weaker on Wednesday (Apr 17) following overnight losses on European market.
The Straits Times Index (STI) was down 0.1 per cent or 1.62 points to 3,143.14 as at 9.02 am. Across the broader market, gainers outnumbered losers 53 to 41 after 33 million securities worth S$53.3 million changed hands.
The most active counter by volume was Macro Polo Marine , which rose 1.5 per cent, or S$0.001 to S$0.069 with 6.8 million shares changing hands, after the company scheduled delivery of new commissioning service operations vessel for early September.
Other heavily traded securities were Singtel , which rose 0.4 per cent, or S$0.01, to S$2.33 with 3.2 million shares traded, and Mapletree Logistic Trust which remained unchanged at S$1.40, with 2.5 million units transacted.
Banking stocks were muted on Tuesday morning. DBS lost 0.03 per cent or S$0.01 to S$35.53 while UOB was down 0.2 per cent or S$0.06 to S$29.16. OCBC was flat at S$13.51.
US indices closed Tuesday little changed as investors stayed cautious amid mixed economic data and Federal Reserve suggesting high-for-longer interest rates. The Dow Jones Industrial Average finished up 0.2 per cent at 37,798.97. The broad-based S&P 500 fell 0.2 per cent to 5,051.42, while the tech-rich Nasdaq Composite Index slipped 0.1 per cent to 15,865.25.
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Over in Europe, heightened tensions in the Middle East pushed investors to steer clear of risky assets. The pan-European Stoxx 600 closed 1.6 per cent down, touching its lowest level over nine months with losses in miners and banks, in a broader market decline. Higher eurozone bond yields also pressured equities.
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