The Business Times

Singapore shares dip at Friday’s open; STI down 0.1%

Michelle Zhu
Published Fri, Sep 16, 2022 · 09:31 AM

SINGAPORE shares fell slightly at the start of trading on Friday (Sep 16) as a raft of economic data continued to weigh on global markets.

As at 9.01 am, the Straits Times Index (STI) declined 0.1 per cent or 2.36 points to 3,265.62. Decliners outnumbered gainers 66 to 37 as 54.8 million securities worth S$55.7 million changed hands.

Index stock Genting Singapore : G13 0% was the most actively traded counter in terms of volume, rising S$0.02 or 2.5 per cent to S$0.815 with 16.2 million of its shares transacted at the open.

Shares of Sembcorp Marine : S51 0% also saw brisk trading, shedding S$0.001 or 0.9 per cent to S$0.114 after 8.8 million securities changed hands.

Meanwhile, Catalist-listed Hatten Land : PH0 0% gained S$0.003 or 9.7 per cent to S$0.03 on heavy volumes following the group’s announcement of a joint venture to raise up to US$10 million in funds for renewable energy projects.

The trio of banks were trading mixed on Friday morning. DBS : D05 0% and OCBC : O39 0% were both marginally up by S$0.10 or S$0.03 or 0.3 per cent and 0.2 per cent, respectively, at S$33.49 and S$12.38. UOB : U11 0% lost S$0.12 or 0.4 per cent to S$27.18. 

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US stocks ended sharply lower on Thursday, battered again by worrisome economic data and concerns about the impact of further aggressive Federal Reserve action next week.

The Dow Jones Industrial Average dropped 0.6 per cent to finish at 30,961.88.

The broad-based S&P 500 fell 1.1 per cent to 3,901.35, while the tech-rich Nasdaq Composite Index sank 1.4 per cent to end at 11,552.36.

European equities ended lower for a third straight day on Thursday with energy and technology shares declining the most, as worries about tighter monetary policy and geopolitical disruptions shook risk sentiment.

The Stoxx 600 index closed 0.7 per cent lower at 414.78, extending losses to a third straight session. A slump in crude prices on demand worries pulled energy shares down 2.1 per cent.

Elsewhere in Asia, Tokyo stocks opened Friday lower after Wall Street shares slumped.

The benchmark Nikkei 225 index was down 0.9 per cent, or 258.60 points, at 27,617.31 in early trade, while the broader Topix index was down 0.6 per cent, or 11.57 points, at 1,938.86.

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