Singapore shares fall at Wednesday’s open; STI down 0.4%
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Goh Ruoxue
SINGAPORE stocks opened lower on Wednesday (Aug 16), tracking losses in regional indices.
As at 9.01 am, the Straits Times Index (STI) dipped 12.95 points or 0.4 per cent to 3,219.79. Across the broader market, losers outnumbered gainers 85 to 32 after 54.5 million securities worth S$59.6 million changed hands.
The most actively traded counter by volume was Bacui Technologies International , which remained flat at S$0.007, after 13.1 million of its securities were traded.
Other heavily traded securities included Seatrium , which remained unchanged at S$0.135, as well as CapitaLand Ascott Trust , which held steady at S$1.
The trio of local banks logged losses on Wednesday morning. DBS slipped 0.2 per cent or S$0.06 to S$33.23, while UOB dropped 0.3 per cent or S$0.09 to S$28.55. OCBC dipped 0.3 per cent or S$0.04 to S$12.46.
US indices ended lower on Tuesday, weighed down by worries over Fitch’s downgrade warning after US bank stocks fell; stronger than expected retail sales data that may lead to sustained higher interest rates; and concerns over the health of the Chinese economy.
The Dow Jones Industrial Average plunged more than 300 points to close 1 per cent lower at 34,946.39. The broad-based S&P 500 slipped 1.2 per cent to 4,437.86, while the tech-rich Nasdaq Composite Index dropped 1.1 per cent to 13,631.05.
European stocks saw declines led by the UK and Sweden, against the backdrop of high interest rates fears and slumping China-exposed shares as Beijing’s policy support failed to boost investor sentiment.
The pan-European Stoxx 600 closed 0.9 per cent lower at 455.57, touching a more-than-one-month intraday low.
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