Singapore shares open lower on Friday; STI slips 0.45% to 3,408.52

Singapore stocks opened lower on Friday, following the negative lead of US and Europe markets.

The benchmark Straits Times Index slipped 15.39 points, or 0.45 per cent, to 3,408.52 as at 9.03am. About 88.7 million shares worth S$126.8 million in total changed hands, and losers narrowly beat gainers 80 to 74.

Among the most active stocks was Chinese shipbuilder Yangzijiang Holdings, which reported a 208 per cent surge in net profit to 866 million yuan (S$177.5 million) for the three months ended Sept 30 from a year ago thanks to higher turnover. It rose 3 cents, or nearly 2 per cent to S$1.595.

Other stocks active in early morning trades included DBS Group Holdings and CapitaLand, which announced their results earlier in the week.