Singapore stocks open flat on Thursday; STI down 0.03%
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Ry-Anne Lim
SINGAPORE stocks opened marginally weaker on Thursday (Oct 13) after Wall Street booked overnight losses amid inflationary pressures.
The Straits Times Index (STI) headed down 0.03 per cent or 0.79 point to 3,082.40 as at 9.03 am. Losers outpaced gainers at 75 to 59, after 34.7 million securities worth S$50.2 million changed hands.
One of the most active counters by volume was Catalist-listed property management company OEL , which traded flat at S$0.01, with 6.1 million shares changing hands.
Other heavily-traded securities included Yangzijiang Financial , which rose 2.9 per cent or S$0.01 to S$0.36, with 4.4 million shares traded; and ComfortDelGro , which increased 0.8 per cent or S$0.01 to S$1.27, with 1.6 million shares traded.
Banking stocks were mixed at early trading – DBS fell 0.4 per cent or S$0.14 to S$33.32 and UOB dropped 0.1 per cent or S$0.03 to S$26.36, while OCBC inched up 0.3 per cent or S$0.03 to S$11.73.
Active index counters included Frasers Logistics & Commercial Trust , which gained 0.8 per cent or S$0.01 to S$1.20, and CapitaLand Ascendas Reit , which grew 0.4 per cent or S$0.01 to S$2.63.
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In the US, stocks ended lower on Wednesday as investors looked ahead to a critical inflation report.
The Dow Jones Industrial Average slipped 0.1 per cent to 29,210.85. The broad-based S&P 500 shed 0.3 per cent to 3,577.03, its sixth straight decline, while the tech-rich Nasdaq Composite dipped 0.1 per cent to 10,417.10.
Meanwhile in Europe, shares continued to tumble on Wednesday as nerves about soaring prices and rising interest rates were aggravated by inflation data from the US.
The pan-European Stoxx 600 index closed down 0.5 per cent, falling for a sixth straight session.
Elsewhere in Asia, Tokyo markets opened lower on Thursday, ahead of US inflation data.
The benchmark Nikkei 225 index dropped 0.1 per cent or 10.39 points to 26,386.44, while the broader Topix index slipped 0.2 per cent or 3.5 points to 1,865.05.
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