Singapore shares open lower on Monday; STI down 0.2%

SINGAPORE stocks began Monday (Sep 16) trading in negative territory, despite gains in global markets last Friday.

As at 9.01 am, the Straits Times Index (STI) dropped 6.55 points or 0.2 per cent to 3,556.1. Across the broader market, gainers outnumbered losers 67 to 36, after 27 million securities worth S$40.4 million changed hands.

Telco Singtel was the most actively traded counter by volume. The counter climbed S$0.01 or 0.3 per cent to S$3.28 after 4.2 million shares changed hands.

Other actively traded names included Keppel Infrastructure Trust which fell S$0.01 or 2.2 per cent to S$0.45. Capitaland Integrated Commercial Trust gained S$0.01 or 0.5 per cent to S$2.14.

Banking stocks were down in early trade. DBS decreased S$0.22 or 0.6 per cent to S$37.72; UOB shed S$0.24 or 0.7 per cent to S$32.20, and OCBC was down S$0.03 or 0.2 per cent to S$15.25.

Wall Street stocks ended Friday higher as investors honed in on the chance of a bigger interest rate cut by the Federal Reserve this week.

SEE ALSO

STI closes at yet another high; ends the week up 3.1%

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The Dow Jones Industrial Average finished up 0.7 per cent at 41,393.78, while the broad-based S&P 500 gained 0.5 per cent to 5,626.02. The tech-rich Nasdaq Composite Index rose 0.7 per cent to 17,683.98.

In Europe, stocks rounded off the week on a positive note, supported by technology, real estate and mining shares.

The pan-European Stoxx 600 index finished up 0.8 per cent at 515.95.