Singapore shares open slightly lower on Tuesday; STI down 0.1%

SINGAPORE stocks opened lower on Tuesday (Jun 7) morning even after global markets ended Monday in the green.

The Straits Times Index (STI) fell 0.1 per cent or 2.84 points to 3,223.79 as at 9.01 am. Losers outnumbered gainers 60 to 53 after 52.6 million securities worth S$55.9 million changed hands.

Oceanus was the top traded counter by volume, rising S$0.001 or 4.4 per cent to S$0.024 with some 21.5 million shares transacted at the open. 

Other heavily traded securities include Mapletree North Asia Commercial Trust which remained flat at S$1.22 with 11 million units traded, as well as MarcoPolo Marine which lost 2.9 per cent or S$0.001 to reach S$0.034 with 3.4 million shares changing hands.

Among index counters, Ascendas Reit also saw brisk trading with 1.7 million units changing hands at the open. It lost S$0.03 or 1.1 per cent to trade at S$2.80.

Banking stocks were mixed in the early morning. DBS was up 0.1 per cent or S$0.04 at S$30.75 while OCBC gained 0.2 per cent or S$0.02 to reach S$11.88. Meanwhile, UOB shed 0.1 per cent or S$0.04 to reach S$28.69. 

In the US, stocks finished a choppy session modestly higher on Monday as markets monitored rising Treasury yields ahead of key inflation data.

The Dow Jones Industrial Average edged up 0.1 per cent to end at 32,915.78. The broad-based S&P 500 advanced 0.3 per cent to close at 4,121.43, while the tech-rich Nasdaq Composite Index gained 0.4 per cent to 12,061.37.

Similarly, European shares ended Monday higher, helped by banks and commodity-linked stocks as investors kept an eye out for US inflation data and details from a European Central Bank meeting later this week.

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The pan-European Stoxx 600 index rose 0.9 per cent to 444.86 after posting a loss of nearly 1 per cent last week on concerns about economic growth amid rising prices and bets of monetary policy tightening by major central banks.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday as the yen trended lower, offering tailwind to exporters.

The benchmark Nikkei 225 index edged up 0.1 per cent or 17.32 points to 27,933.21 in early trade, while the broader Topix index added 0.3 per cent or 5.73 points to 1,944.84.