Singapore shares fall at Tuesday’s open; STI down 0.2%

SINGAPORE stocks began trading in negative territory on Tuesday (Feb 6) morning, following overnight losses in global equity markets.

The Straits Times Index (STI) declined 0.2 per cent or 5.32 points to 3,128.97 as at 9.03 am. Across the broader market, losers outnumbered gainers 59 to 57, after 112 million securities worth S$70.5 million changed hands.

The most active counter by volume was Seatrium , which traded up 1 per cent or S$0.001 at S$0.097 with 66.7 million shares transacted. Other heavily traded securities included Totm Technologies which rose 26.3 per cent or S$0.005 to S$0.024.

Banking stocks were trading mixed in early morning trade. DBS was trading down 0.6 per cent or S$0.18 at S$31.67. OCBC increased 0.1 per cent or S$0.01 to S$12.82, while UOB inched down 0.3 per cent or S$0.08 to S$28.31.

Shares on Wall Street ended on Monday markedly lower, as Treasury yields picked up on concerns over the timing of interest rate cuts this year.

The Dow Jones Industrial Average fell 0.7 per cent to 38,380.12 while the broad-based S&P 500 retreated 0.3 per cent to 4,942.81. The tech-heavy Nasdaq Composite Index crept down 0.2 per cent to 15,597.68.

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European shares closed lower on Monday, as government bond yields across the continent jumped on lower expectations about imminent interest rate cuts by major central banks, eclipsing gains brought by some upbeat corporate reports.

The pan-European Stoxx 600 index ended 0.1 per cent lower at 483.69 after closing the previous week flat.