Singapore shares fall on Tuesday; STI down 0.4%
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Michelle Zhu
SINGAPORE stocks opened lower on Tuesday (Jan 16) to track overnight losses in European markets.
As at 9.01 am, the Straits Times Index (STI) declined 13.13 points or 0.4 per cent to 3,186.29. Across the broader market, losers outnumbered gainers 58 to 32 after 26.8 million securities worth S$35.3 million changed hands.
Thai Beverage was the most heavily traded counter by volume at the open. The beverage manufacturer fell S$0.005 or 0.9 per cent after 6.2 million securities were transacted.
Other stocks that were heavily traded included Seatrium . The index counter shed S$0.001 or 0.9 per cent to S$0.113.
Shares of Wilmar International fell S$0.05 or 1.5 per cent to S$3.39 in early trade following the agribusiness group’s announcement that it had zero tolerance for corrupt practices after its China subsidiary denied involvement in an alleged palm oil fraud.
The trio of local banks were all down. DBS lost S$0.07 or 0.2 per cent to S$32.61, UOB slid S$0.21 or 0.7 per cent to S$28.19 and OCBC was S$0.06 or 0.5 per cent lower at S$12.88.
In the US, stock and bond markets were closed on Monday in observance of a public holiday.
European equities ended lower on Monday as government bond yields rose and brokerages turned bearish on their stocks.
The pan-European Stoxx 600 ended 0.5 per cent lower at 474.19.
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