Singapore stocks fall at Thursday’s open; STI down 0.1%

SINGAPORE stocks fell in early trade on Thursday (Nov 10), mirroring falls on Wall Street amid anxiety ahead of a pivotal consumer price report and drops in the cryptocurrency market.

The Straits Times Index (STI) fell 0.1 per cent or 3.67 points to 3,161.83 as at 9.01 am.

Losers outnumbered gainers 74 to 35 after 53.5 million securities worth S$39.4 million changed hands.

Sembcorp Marine was among the most actively traded securities on Thursday morning, with 6.4 million shares changing hands as at 9.01 am. The counter fell 0.7 per cent or S$0.001 to S$0.134.

Acesian Partners also saw brisk trading, with 8.1 million shares transacted as at 9.01 am. The counter rose 12.5 per cent or S$0.005 to S$0.045.

Singtel was the top gainer on Thursday morning, after the telco released its half-year financial results. Its shares were up 1.2 per cent or S$0.03 to S$2.58 as at 9.01 am.

The trio of local banks were all trading lower at the open, with DBS down 0.1 per cent or S$0.03 at S$34.64. UOB fell 0.2 per cent or S$0.06 to S$29.08, while OCBC slipped 0.7 per cent or S$0.08 to S$12.17.

In the US, Wall Street stocks tumbled into the red on Wednesday after three straight positive sessions as markets digested US election results. The declines in equities came amid anxiety ahead of Thursday’s pivotal consumer price report, while a big drop in bitcoin and other digital currencies raised worries about margin calls.

The Dow Jones Industrial Average lost 2 per cent to finish at 32,513.94. The broad-based S&P 500 fell 2.1 per cent to 3,748.57, while the tech-rich Nasdaq Composite Index slid 2.5 per cent to 10,353.18.

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European shares also snapped a three-day advance on Wednesday, weighed down by economically sensitive stocks, amid uncertainty over the US midterm elections outcome.

The pan-European Stoxx 600 index closed 0.3 per cent lower after clocking an eight-week closing high in the prior session.

Elsewhere in Asia, Tokyo stocks opened lower on Thursday, with investors discouraged by the falls on Wall Street.

The benchmark Nikkei 225 index lost 1 per cent or 283.72 points to 27,432.71 in early trade, while the broader Topix index fell 0.8 per cent or 16.28 points to 1,933.21.