Singapore shares open lower on Monday; STI down 0.3%

SINGAPORE stocks started trading in the negative territory on Monday (Aug 12). This comes despite Wall Street regaining almost all of its losses from the steep dive on Aug 5. 

As at 9.02 am, the Straits Times Index (STI) opened 0.3 per cent or 9.78 points lower at 3,252.05. Across the broader market, gainers outnumbered losers 86 to 46 after 46.2 million securities worth S$89.9 million changed hands.

One of the most actively traded counters by volume was ThaiBev , which was flat at S$0.50, with 11.3 million shares changing hands.

Other heavily traded securities included Singtel , which dropped 1.4 per cent or S$0.04 to S$2.88. Shares of offshore oil and gas contractor Dyna-Mac rose 2.5 per cent or S$0.015 to S$0.61.

Banking stocks traded mixed at the open. DBS increased 2.8 per cent or S$0.94 to S$34.51. UOB decreased 2.1 per cent or S$0.62 to S$29.38. OCBC also slipped 1.6 per cent or S$0.22 to S$14.01.

Wall Street stocks ended higher on Friday. The Dow Jones Industrial Average rose 51.05 points, or 0.1 per cent, to 39,497.54.

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The broad-based S&P 500 gained 24.85 points, or 0.5 per cent, to 5,344.16 as the technology sector gave the index its biggest boost. The tech-rich Nasdaq Composite Index added 85.28 points, or 0.5 per cent, to 16,745.3.

In Europe, shares logged gains for a fourth consecutive session on continued boost from healthcare stocks. The Stoxx 600 closed 0.6 per cent higher at 499.19.