Singapore shares decline at Tuesday’s open; STI down 0.01%

SINGAPORE shares were pulled into negative territory on Tuesday (Feb 7), after US and Europe stocks both ended lower overnight.

The Straits Times Index (STI) fell 0.01 per cent or 0.35 point to 3,385.58 as at 9.01 am. Gainers matched losers 53 to 53 after 25 million securities worth S$41 million changed hands.

Genting Singapore was among the most actively traded securities on Tuesday morning, with 5.7 million shares changing hands as at 9.01 am. The counter traded flat at S$1.

Thai Beverage was the top gainer on Tuesday morning, rising 1.5 per cent or S$0.01 to S$0.695.

Units of Capitaland Ascott Trust were also among the top actively traded securities in terms of volume. Its units were down 0.9 per cent or S$0.01 at S$1.10.

The three local banks were also trading higher at Tuesday’s open. DBS was up 0.5 per cent or S$0.17 at S$36.01, UOB rose 0.1 per cent or S$0.03 to S$30.37, while OCBC gained 0.2 per cent or S$0.02 to S$13.02.

SEE ALSO

Stocks to watch: CapitaLand India Trust, Boustead Singapore, Boustead Projects, YKGI

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Wall Street stocks finished lower on Monday following a downcast session marred by worries over Federal Reserve policy and the state of US-China relations. The Dow Jones Industrial Average dipped 0.1 per cent to 33,891.02, while the broad-based S&P 500 dropped 0.6 per cent to 4,111.07. Meanwhile, the tech-rich Nasdaq Composite Index dropped 1 per cent to 11,887.45.

European shares fell on Monday, as fears that the global interest rate-hiking cycle could persist for longer than previously expected weighed on rate-sensitive technology and real estate shares. The pan-European Stoxx 600 closed down 0.8 per cent, pulling back from a nine-month high it hit on Friday on optimism about the eurozone economy.