Singapore stocks fall in early trade on Monday; STI down 0.8%
Ilyas Salim
SINGAPORE stocks fell in early trade on Monday (Oct 3) after global markets closed mixed overnight.
The Straits Times Index fell 0.8 per cent, or 25.86 points, to 3,104.4 as at 9.01 am. Losers outnumbered gainers 114 to 34 after 79.9 million shares worth S$75.1 million changed hands.
Marine logistics group Sembcorp Marine was among the top traded counters by volume on Monday, shedding 1.9 per cent or S$0.002 to S$0.104 as 5.6 million shares were traded.
Although shares of AP Strategic were the top traded in terms of volume with 31.1 million shared changing hands, they remained unchanged at S$0.001 as at 9.01 am.
Among index stocks, Singtel shares were also actively traded, falling 0.8 per cent or S$0.020 to S$2.64, with 3 million shares changing hands. CapitaLand Integrated Commercial Trust (CICT) also saw significant trading activity, falling 1.6 per cent or S$0.03 to S$1.90, with 2.9 million shares traded.
The trio of local banks all began Monday’s trading session in the red. DBS was down 0.8 per cent or S$0.27 to S$33.12. OCBC fell 0.9 per cent or S$0.10 to S$11.73, while UOB dropped 0.2 per cent or S$0.04 to S$26.12.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Over on Wall Street, stocks ended decisively lower on Friday to conclude another difficult week defined by worries over inflation and the worsening Russia-Ukraine conflict.
The broad-based S&P 500 finished at 3,585.62, down 1.5 per cent for the day and almost 3 per cent for the week. Meanwhile, the Dow Jones Industrial Average shed 1.7 per cent to close at 28,75.51, while the tech-rich Nasdaq Composite Index dropped 1.5 per cent to 10,575.61.
Meanwhile in Europe, stocks climbed on Friday but saw sharp losses during a quarter marked by rising interest rates and tumbling risk sentiment, with hot inflation data from the region keeping investors on edge.
The region-wide Stoxx 600 index closed up 1.3 per cent but had briefly pared some session gains after data showed euro zone inflation zoomed past forecasts to 10.0 per cent in September, hitting a new record high.
Elsewhere in Asia, Tokyo stocks opened lower on Monday, extending falls on Wall Street, where fears grew that monetary tightening could lead to a global recession.
The benchmark Nikkei 225 index was down 0.9 per cent, or 231.30 points, at 25,705.91 in early trade, while the broader Topix index dropped 0.7 per cent, or 13.48 points, to 1,822.46.
Copyright SPH Media. All rights reserved.
