The Business Times

Singapore stocks decline at open after Wall Street retreat; STI down 0.8%

Vivienne Tay
Published Wed, Jul 7, 2021 · 09:39 AM

SINGAPORE shares pulled back on Wednesday morning following overnight losses on Wall Street and weaker openings from index counters.

The Straits Times Index (STI) slipped 0.8 per cent or 26.29 points to 3,164.30 as at 9.03am. Losers outnumbered gainers 90 to 67, after 91.4 million securities worth S$78.9 million changed hands.

The most active counter by volume was Sembcorp Marine S51 : S51 0% , which dropped 0.8 per cent or 0.1 Singapore cent to 12.3 cents, with 20 million shares changing hands.

Other heavily traded securities include Secura 43B : 43B 0% , which rose 10 per cent or 0.8 Singapore cent to 8.8 cents with 8.5 million shares traded. The security solutions provider on Tuesday said its wholly-owned subsidiary Soverus bagged a S$6.8 million contract to provide unarmed guards services.

Meanwhile, GKE 595 : 595 0% was up 2.2 per cent or 0.3 Singapore cent to 14.1 cents, with 4.4 million shares traded.

Banking stocks were in the red in early trade. DBS D05 fell 1.6 per cent or S$0.48 to S$30.39, UOB U11 dropped 1.1 per cent or S$0.30 to S$26.07, while OCBC O39 : O39 0% declined 1.1 per cent or S$0.13 to S$12.07.

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Other active index counters include Singtel Z74 , which held steady at S$2.30, and Singapore Airlines C6L : C6L 0% , which lost 1.2 per cent or S$0.06 to S$5.12.

In the US, the Dow Jones Industrial Average dropped 0.6 per cent to 34,577.37, the broad-based S&P 500 lost 0.2 per cent to 4,343.54, while the tech-rich Nasdaq Composite added 0.2 per cent to 14,663.64.

Meanwhile, the pan-European Stoxx 600 index fell 0.5 per cent, with the automobiles and parts index sliding the most by 2.9 per cent. Worries about supply chain bottlenecks have weighed on the index since it hit 2015 highs in early June.

Elsewhere in Asia, Tokyo stocks opened lower on Wednesday following the decline on Wall Street. The benchmark Nikkei 225 index was down 1.5 per cent at 28,208.48 in early trade, while the broader Topix index slipped 1.2 per cent to 1,930.34.

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