Singapore shares inch down at Thursday’s open; STI down 0.1%

SINGAPORE stocks opened slightly lower on Thursday (Apr 13) after Wall Street stocks finished in the red overnight.

The Straits Times Index inched down 0.1 per cent or 4.02 points, to 3,282.1 points as at 9.01 am. Across the broader market, losers outnumbered gainers 52 to 41, after 49.3 million securities worth S$42.7 million changed hands.

Genting Singapore was among the most actively traded stocks by volume with 6.2 million shares traded. The gaming counter was down 0.9 per cent or S$0.01 at at S$1.15.

Other heavily-traded securities included Rex International , which rose 1.6 per cent or S$0.003 to S$0.191, as well as Oceanus Group , which traded flat at S$0.012. The Place Holdings , with 2.9 million shares changing hands, was down 16.7 per cent or S$0.001 to S$0.005.

Stocks of Singapore’s three big banks retreated in morning trade. DBS declined 0.2 per cent or S$0.07 to S$32.25, while UOB slipped 0.2 per cent or S$0.06 to S$29.95. OCBC was down 0.2 per cent or S$0.03 to S$12.71.

Wall Street stocks ended in the red on Wednesday after minutes revealed US Federal Reserve economists in March projected a “mild recession”. The Dow Jones Industrial Average fell 0.1 per cent to 33,646.50, and the broad-based S&P 500 dropped 0.4 per cent to 4,091.95. The tech-rich Nasdaq Composite declined 0.9 per cent to 11,929.34.

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Meanwhile, European’s blue-chip stocks hit their highest in 22 years on Wednesday, before coming off that level later to end with only marginal gains for the day. The pan-European Stoxx 600 index ended 0.1 per cent higher at 462.38, also having chopped early gains.