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

SINGAPORE stocks opened slightly weaker on Tuesday (Nov 21) as banks and index counters started the morning mixed.

The Straits Times Index headed down 0.1 per cent or 1.77 points to 3,109.81 as at 9.02 am. Across the broader market, gainers outnumbered losers 75 to 35, or about two securities up for every one down, after 62.6 million securities worth S$51.9 million changed hands.

The most active counter by volume was Seatrium , which lost 0.9 per cent or S$0.001 to S$0.108, with 24.2 million shares traded.

Other heavily traded securities include Singtel, which was down 1.3 per cent or S$0.03 to S$2.28 with 5.2 million shares traded, as well as Manulife US Reit , which held steady at US$0.102 with 1.6 million units changing hands.

Banking stocks started the morning mixed. DBS shed 0.5 per cent or S$0.16 to S$32.26, UOB added 0.2 per cent or S$0.05 to S$27.36, while OCBC fell 0.2 per cent or S$0.02 to S$12.83.

Other active index counters included Yangzijiang Shipbuilding , which slid 1.4 per cent or S$0.02 to S$1.45 and Mapletree Logistics Trust , which rose 1.3 per cent or S$0.02 to S$1.60.

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In the US, tech shares led market gains on Monday amid retreating Treasury yields. The tech-rich Nasdaq Composite Index rose 1.1 per cent to finish at 14,284.53. The Dow Jones Industrial Average ended 0.6 per cent at 35,151.04, while the broad-based S&P 500 gained 0.7 per cent to 4,547.38.

European shares also closed Monday in positive territory. The pan-European Stoxx 600 edged up 0.1 per cent after climbing nearly 3 per cent last week.