Singapore shares fall on Tuesday; STI down 0.2%
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Yong Hui Ting
SINGAPORE shares started Tuesday (Dec 6) in the red after Wall Street stocks dipped as investors feared the Fed would continue its aggressive tightening policy to ease inflation amid optimistic economic data.
The Straits Times Index (STI) fell 7.65 points or 0.2 per cent to 3,259.89 as at 9.02am. Decliners outnumbered advancers 78 to 51, after 86 million securities worth S$82.4 million changed hands.
Sembcorp Marine and seafood supplier Oceanus were the most heavily traded counters in the morning. Sembmarine opened unchanged at S$0.148 with 13 million shares traded, while Oceanus was trading flat at S$0.017 after 3.5 million securities were traded.
Among the index securities, the most heavily traded by volume was Genting Sing , which gained S$0.005 or 0.6 per cent to S$0.89, with 1.7 million units traded.
The trio of local lenders were mixed in early trade. DBS fell S$0.20 or 0.6 per cent to S$34.30, OCBC rose S$0.06 or 0.5 per cent to S$12.24, while UOB shed S$0.13 or 0.4 per cent to S$30.87 as at 9.02am.
US shares fell Monday after better-than-expected US services data added to worries that the Federal Reserve will prolong its aggressive policies to counter inflation.
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The Dow Jones Industrial Average finished down 1.4 per cent at 33,947.10.
The broad-based S&P 500 shed 1.8 per cent to 3,998.84, while the tech-rich Nasdaq Composite Index dropped 1.9 per cent to 11,239.94.
European shares also slipped on Monday after data showing a decline in euro zone business activity fanned recession fears, while the hope that China may ease its Covid-19 curbs boosted miners and other China-exposed equities.
The region-wide Stoxx 600 closed 0.4 per cent down.
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