Singapore shares muted at open after global markets end mostly higher
Vivienne Tay
SINGAPORE stocks opened muted on Tuesday (Jul 25) after stock markets in the United States and Europe closed mostly higher with the approach of the earnings results season.
On the Singapore bourse, the Straits Times Index edged up 0.07 point to 3,265.21 as at 9.01 am. Across the broader market, gainers outnumbered losers 70 to 44 after 81.3 million securities worth S$58 million changed hands.
The most active counter by volume was Seatrium , which held steady at S$0.145 with 41.7 million shares traded.
Other heavily traded securities included RH Petrogas , which remained unchanged at S$0.205 with 3.6 million shares traded; and Singtel, which gained 0.4 per cent or S$0.01 to S$2.63, with 2.8 million shares traded.
Banking stocks were mixed in early morning trade. DBS lost 0.6 per cent or S$0.18 to S$32.26, UOB was S$0.01 lower at S$28.35, while OCBC rose 0.3 per cent, or S$0.04 to S$12.68.
Wall Street stocks finished Monday higher, with the Dow notching its 11th straight gain. All eyes are also on central bank announcements, with the Federal Reserve widely expected to lift interest rates on Wednesday.
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The blue-chip index closed up 0.5 per cent at 35,411.24.The broad-based S&P 500 added 0.4 per cent to 4,554.64, while the tech-rich Nasdaq Composite Index rose 0.2 per cent at 14,058.87.
In Europe, shares edged up on Monday after gains in energy and telecom stocks clashed with fears of a recession in the eurozone. Spain’s benchmark IBEX index was also down after the country’s general election resulted in no clear winner.
The pan-European Stoxx 600 inched up 0.1 per cent, nearing five-week highs.
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