Singapore shares muted at Thursday’s open; STI up 0.03%

SINGAPORE stocks were little changed at Thursday’s (Oct 5) open following a mixed performance on global equity markets.

On the Singapore bourse, the Straits Times Index (STI) inched up 0.03 per cent or 1.07 points to 3,148.46 as at 9.01 am. Across the broader market, gainers outnumbered losers 63 to 42, after 42.1 million securities worth S$39.8 million changed hands.

The most active counter by volume was Thai Beverage , which lost 0.9 per cent, or S$0.005 to S$0.545, with seven million shares traded.

Other heavily traded securities include Seatrium , which advanced 0.8 per cent or S$0.001 to S$0.127 with 2.8 million shares traded, and Mermaid Maritime , which climbed 13.3 per cent or S$0.01 to S$0.085, with five million shares changing hands.

On Thursday, the subsea services provider announced its subsidiaries obtained multiple projects valued at US$485 million in total.

Banking stocks were mixed in early morning trade. DBS slipped 0.5 per cent or S$0.16 to S$33.06, UOB was down 0.3 per cent or S$0.08 to S$27.99, while OCBC rose 0.1 per cent or S$0.01 to S$12.66.

SEE ALSO

Stocks to watch: ESR-Logos Reit, Mermaid Maritime

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US stocks finished higher on Wednesday as Treasury yields pulled back. The Dow Jones Industrial Average closed 0.4 per cent higher at 33,129.55, and the broad-based S&P 500 increased 0.8 per cent to 4,263.73. The tech-rich Nasdaq Composite Index gained 1.4 per cent to end at 13,236.01.

European stocks, however, continued to retreat, closing lower for the third day in a row on Wednesday, with the pan-European Stoxx 600 index losing 0.1 per cent.