Singapore shares fall at Tuesday’s open; STI down 0.5%

SINGAPORE stocks opened weaker on Tuesday (Oct 3) after global markets closed mostly lower.

The Straits Times Index headed down 0.5 per cent or 16.9 points to 3,191.96 as at 9.01 am. Across the broader market, losers outnumbered gainers 53 to 36, after 54.9 securities worth S$59.9 million changed hands.

The most active counter by volume was Seatrium , which held steady at S$0.133 with 20.4 million shares traded.

Other heavily traded securities included Lendlease Reit , which fell 0.9 per cent or S$0.005 to S$0.525 with 6.2 million shares traded, as well as Genting Singapore , which was down 0.6 per cent or S$0.005 to S$0.85.

Banking stocks declined in early morning trade. DBS slid 1 per cent or S$0.32 to S$33.27, UOB lost 0.9 per cent or S$0.26 to $28.08, while OCBC slipped 0.2 per cent or S$0.02 to S$12.78.

Wall Street stocks ended Monday mixed after the US government struck a deal to avert a shutdown, while Treasury yields rose.

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The Dow Jones Industrial Average closed 0.2 per cent lower at 33,433.35, while the broad-based S&P 500 finished flat at 4,288.39. The tech-rich Nasdaq Composite Index climbed 0.7 per cent at 13,307.77.

In Europe, stocks closed lower as higher bond yields pressured equities, and data showed that factory activity in the eurozone stayed in a broad-based downturn. The pan-European Stoxx 600 index closed 1 per cent lower on Monday and reached its lowest since the end of March during intra-day trading.