Singapore shares fall at Tuesday’s open; STI down 0.6%

SINGAPORE stocks slipped in the first few minutes of trade on Tuesday (Mar 14), extending the previous day’s losses.

The Straits Times Index (STI) headed down 0.6 per cent or 19.83 points to 3,112.54 as at 9.03 am. Gainers outnumbered losers 79 to 60, after 176.7 million securities worth S$139 million changed hands.

The most active counter by volume was Sembcorp Marine , which rose 4 per cent or S$0.004 to S$0.105, with 98.6 million shares traded.

Other heavily traded securities included Thai Beverage Public Company , which was up 1.6 per cent or S$0.01 to S$0.635 with 8.9 million shares traded and Golden Agri-Resources , which held steady at S$0.26 with six million shares traded.

Banking stocks started the morning trading session in the red. DBS dropped 2.2 per cent or S$0.71 to S$31.99, UOB was down 0.7 per cent or S$0.21 to S$28.08, while OCBC slid 0.9 per cent or S$0.11 to S$12.05.

Other active index counters included Yangzijiang Shipbuilding , which lost 3.1 per cent or S$0.04 to S$1.24, as well as City Developments , which shed 2.2 per cent or S$0.16 to S$7.07.

SEE ALSO

Stocks to watch: Sembcorp, Yoma Strategic, Geo Energy, Metech

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Wall Street ended mixed on Monday, with bank stocks experiencing another sell-off as worries of contagion related to the Silicon Valley Bank saga continued to plague investors.

The Dow Jones Industrial Average closed 0.3 per cent lower at 31,819.14, the broad-based S&P 500 slid 0.2 per cent to 3,855.76, while the Nasdaq Composite Index rose 0.5 per cent to 11,188.84.

European stocks also recorded their steepest one-day fall in, 2023 on Monday. The pan-European Stoxx 600 index finished 2.3 per cent lower, dragged by bank, financial, insurance and energy stocks.