Singapore stocks dip at Monday’s open; STI down 0.3%

COUNTERS listed on the Singapore Exchange (SGX) started the week in a sea of red on Monday (Nov 28).

The Straits Times Index (STI) fell 0.3 per cent or 9.3 points to 3,235.24 as at 9 am as losers outnumbered gainers 76 to 57 after 38.7 million securities worth S$50.2 million changed hands.

The top traded counter by volume was Suntec real estate investment trust (Reit) : T82U 0%, which fell 1.5 per cent or S$0.02 to S$1.36 at 9am as 2.6 million securities were traded.

This was followed by Genting Singapore : G13 0%, which slipped 1.2 per cent or S$0.01 to S$0.86 following brisk trading activity of more than 2.5 million shares changing hands.

Thai Beverage : Y92 0% was the top most heavily traded index counter on Monday morning. Its shares gained 2.5 per cent or S$0.015 to S$0.625 as 2.5 million shares changed hands. This comes after the beverage maker on Friday posted earnings of 30.1 billion baht (S$1.2 billion) for the full FY2022, up 22.2 per cent from net profit of 24.6 billion baht in FY2021.

The group proposed a final dividend of 0.45 baht per share, higher than the final dividend of 0.35 baht last year as sales were lifted by a recovery in the Thai economy amid reopening of entertainment venues and the relaxation of travel restrictions.

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All three Singapore banks opened in the red on Monday morning. DBS : D05 0%fell 0.4 per cent or S$0.15 to S$34.60, OCBC : O39 0% slipped 0.3 per cent or S$0.03 to S$12.22 and UOB : U11 0% lost 0.2 per cent or S$0.05 to S$30.20.

US stocks, on the other hand, ended last Friday’s session with a mixed showing after a shortened session following the Thanksgiving break and as shoppers headed out in search of Black Friday deals.

The Dow Jones Industrial Average was up 0.5 per cent at 34,347.03, while the broad-based S&P 500 ended flat at 4,026.12. The tech-rich Nasdaq Composite Index shed 0.5 per cent to 11,226.36.

In Europe, the Stoxx 600 ended Friday unchanged as hopes of slowing interest rate hikes offset a real estate sector sell-off and retailers were hurt by fears of a bumpy holiday shopping season.

This comes after the pan-European stock index hit a more than three-month high earlier this week.