Singapore shares open lower on Tuesday; STI down 1.4%

SINGAPORE stocks continued their slide on Tuesday morning from the day before.

The benchmark Straits Times Index (STI) slipped 1.4 per cent or 36.57 points to 2,593.12 as at 9.36am. Losers outnumbered gainers 189 to 78, after 324.9 million securities worth S$349.5 million changed hands.

Among the most active counters by volume was Thai Beverage Public Co, which lost 0.5 Singapore cent or 0.7 per cent to 70.5 cents, with 2.3 million shares changing hands as at 9.14am.

Other heavily traded securities include Genting Singapore, which fell 0.7 per cent or half a Singapore cent to 76 cents, with 2.3 million shares traded.

The trio of local banks showed mixed results in early trade. DBS gained 0.1 per cent or S$0.01 to S$21.06, while UOB rose 0.1 per cent or S$0.02 to S$20.65.

OCBC fell 0.2 per cent or S$0.02 to S$9.08.

Other active index counters include the Singapore Exchange, which lost 0.5 per cent or S$0.04 to S$8.08.

Singapore Airlines (SIA) slipped 1 per cent or S$0.04 to S$3.98. The national carrier on Monday said said that customers can transit through Changi Airport from points in China, Hong Kong, Japan and South Korea, to any destination in the SIA group network currently operated by SIA, SilkAir or Scoot.

Singtel rose 0.4 per cent or S$0.01 to S$2.51.

In the US, The Nasdaq powered to a fresh record on Monday, lifted in part by new technology announcements from Apple as investors continue to weigh increased coronavirus cases against lofty stimulus measures.

Meanwhile, European shares closed at a near one-week low on Monday as signs of a resurgence in coronavirus cases in Germany and elsewhere unnerved investors who were hoping for a swift economic recovery from the crisis.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday as investors took heart from rallies on Wall Street, while weighing the ongoing spread of coronavirus against stimulus measures introduced by governments worldwide.