Singapore shares open lower on Wednesday; STI down 0.4%

SINGAPORE stocks opened lower on Wednesday (Sep 7) after Wall Street stocks extend losses. 

The Straits Times Index (STI) was down 0.4 per cent or 11.17 points to 3,213.01 as at 9.01 am. Losers outweighed gainers 88 to 32 after 54.4 million securities worth S$74.7 million changed hands.

Sembcorp Marine was the most actively traded counter in the morning with 7.4 million shares transacted. The counter was down 0.9 per cent or S$0.001 at S$0.113. Among index counters, Singtel traded 0.4 per cent or S$0.01 lower at S$2.66 after 2.9 million shares changed hands.

The trio of local banks traded lower at Wednesday’s open. DBS lost 0.6 per cent or S$0.18 to S$32.36, UOB fell 0.4 per cent or S$0.10 to S$27, while OCBC was down 0.3 per cent or S$0.03 at S$11.99.     Over in the US, Wall Street stocks fell on Tuesday, extending an equity downturn as worries about tightening central bank policy and Europe’s energy woes offset good US economic data.

The Dow Jones Industrial Average lost 0.6 per cent to end at 31,145.3. The broad-based S&P 500 fell 0.4 per cent to 3,908.19, while the tech-rich Nasdaq Composite Index slid 0.7 per cent to 11,544.91.

European shares ended higher in volatile trading on Tuesday following a bleak start to the week on worries over a looming energy crisis and recession.

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The continent-wide Stoxx 600 index closed up 0.2 per cent after a 0.6 per cent loss in the previous session as Russia stopped pumping gas via the Nord Stream 1 pipeline to Europe.

Elsewhere in Asia, Tokyo stocks opened lower on Wednesday, tracking falls on Wall Street amid lingering worries over US rate hike plans.

The benchmark Nikkei 225 index was down 0.64 per cent or 177.41 points at 27,449.1 in early trade, while the broader Topix index was down 0.63 per cent or 12.22 points at 1,914.36.