Singapore shares fall at Thursday’s open tracking global losses; STI down 0.2%

SINGAPORE stocks opened weaker on Thursday (Jul 6) following overnight losses on Wall Street.

The Straits Times Index (STI) headed down 0.2 per cent or 6.08 points to 3,179.3 as at 9.02 am. Losers outnumbered gainers 63 to 48 after 47.1 million securities worth S$61.4 million changed hands.

The most active counter by volume was Golden Agri-Resources , which remained unchanged at S$0.25 with 3.8 millions shares changing hands.

Other heavily traded securities included Seatrium , which gained 0.8 per cent or S$0.001 to S$0.127 with 2.7 million shares traded, and Golden Energy which traded flat at S$0.181 with 2.6 million shares changing hands.

The trio of local banks opened lower on Thursday morning. DBS lost 0.6 per cent or S$0.20 to S$31.01. OCBC slipped 0.5 per cent or S$0.06 to S$12.17, and UOB fell 0.5 per cent or S$0.13 to S$27.70.

US indices were down on Wednesday as US Treasury bond yields climbed and Federal Reserve’s June meeting minutes signalled the possibility of more interest rate hikes ahead.

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Stocks to watch: Frasers Centrepoint Trust, SingPost, Penguin International, Dasin Retail Trust

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The tech-rich Nasdaq Composite Index declined 0.3 per cent to 13,791.65. The broad-based S&P 500 dipped 0.2 per cent to 4,446.82, while the Dow Jones Industrial Average dropped 0.4 per cent to 34,288.64.

Over in Europe, blue-chip stocks fell due to spreading worries on interest rate hikes from Wall Street and growing concerns over the faltering global economy with weak data of Eurozone and China.

The Euro Stoxx 50 index fell 0.9 per cent, while the broader Stoxx 600 dropped 0.7 per cent.