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

SINGAPORE stocks opened lower on Wednesday (Apr 5) after global markets ended in the red overnight.

The Straits Times Index (STI) fell 0.2 per cent or 6.09 points to 3,305.03, as at 9.01 am.

Across the broader market, losers outnumbered gainers 72 to 47 after 48.9 million securities worth S$58.9 million changed hands.

The Place Holdings was the most actively traded counter by volume with 12.7 million shares changing hands on Wednesday morning, although it remained flat at S$0.007.

Sembcorp Marine was another actively traded stock, dipping 0.8 per cent or S$0.001 to S$0.124 at the open.

Parkson Retail Asia was down 8.9 per cent or S$0.008 to S$0.082, after its independent auditor on Tuesday flagged issues over the department store retailer’s ability to operate on a going concern basis.

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Local banks traded mixed in the morning. DBS dipped 0.2 per cent or S$0.07 to S$33.23, while UOB rose marginally by 0.03 per cent or S$0.01 to S$29.94. OCBC opened flat at S$12.66.

Wall Street stocks ended lower on Tuesday amid signs of a cooling economy with a dip in US job openings and weak manufacturing numbers. The Dow Jones Industrial Average fell 0.6 per cent to 33,402.38. The broad-based S&P 500 also finished 0.6 per cent lower at 4,100.6, while the tech-rich Nasdaq Composite Index shed 0.5 per cent to 12,126.33.

In Europe, shares slipped on Tuesday as heavyweight energy stocks fell. The pan-European Stoxx 600 index closed 0.1 per cent lower at 457.34.