Singapore stocks open lower on Tuesday; STI down 0.1%

SINGAPORE shares opened lower on Tuesday despite rallies on Wall Street overnight.

The Straits Times Index (STI) slipped 0.1 per cent or 2.79 points to 3,125.29 as at 9.02am. Gainers outnumbered losers 96 to 33, after 149 million securities worth S$184.5 million changed hands.

Engineering firm Ausgroup's shares were among the most actively traded securities on Tuesday morning, with 71.6 million shares changing hands as at 9.14am. The counter fell 3 per cent or 0.1 Singapore cent to 3.2 cents.

This was followed by CapitaLand, which was a distant second with 19.9 million shares traded within the same amount of time. The counter jumped 17.5 per cent or S$0.58 to S$3.89.

Among index counters, CapitaLand was also the top gainer, rising 18.1 per cent or S$0.60 to S$3.91 as at 9.05am. However, CapitaLand Integrated Commercial Trust fell 3.2 per cent or S$0.07 to S$2.11, making it the top loser.

The trio of local banks were trading in a mixed session as at 9.03am. UOB and OCBC both rose 0.4 per cent, with the former up S$0.10 to S$25.55, and the latter by S$0.05 to S$11.59. However, DBS lost 0.3 per cent or S$0.09 to S$28.29.

Over on Wall Street, equities rallied on Monday as yields on the 10-year US Treasury notes pulled back from their highest level in more than a year. Investor sentiment was also buoyed by positive trials for AstraZeneca's coronavirus vaccine. The tech-rich Nasdaq Composite Index jumped 1.2 per cent to 13,377.54, the Dow Jones Industrial Average advanced 0.3 per cent to 32,731.20, while the broad-based S&P 500 gained 0.7 per cent to 3,940.59.

Meanwhile, European stocks eked out gains after automakers resumed their advance, with automobile stocks rising for a fifth day in the past six sessions. Despite lingering worries about increased restrictions following rising coronavirus cases on the continent, the pan-European Stoxx 600 rose 0.2 per cent.

Elsewhere in Asia, Tokyo stocks opened higher on Tuesday as investors took heart from Wall Street rallies. The benchmark Nikkei 225 index was up 0.7 per cent or 206.08 points at 29,380.23 in early trade, while the broader Topix index gained 0.4 per cent or 7.97 points to 1,998.15.