Singapore shares open lower on Monday; STI down 0.3%

SINGAPORE stocks began trading in negative territory on Monday (Oct 30) after global equities finished the week mostly lower.

The Straits Times Index (STI) declined 9.5 points or 0.3 per cent to 3,052.35 as at 9.01 am. Across the broader market, losers outnumbered gainers 68 to 39 after 23.1 million securities worth S$42.7 million changed hands.

CapitaLand Integrated Commercial Trust was the most actively traded counter in terms of volume, gaining S$0.04 or 2.3 per cent to trade at S$1.78 at the open after 5.6 million of its units moved.

Index counter Thai Beverage advanced S$0.005 or 0.9 per cent to S$0.54, and shares of oil exploration and production company Rex International shed S$0.003 or 1.7 per cent to S$0.17.

The trio of local banks were down in early trade, with DBS losing S$0.22 or 0.7 per cent to S$32.91. UOB and OCBC declined 0.2 per cent each with UOB down S$0.04 to S$26.99, and OCBC trading S$0.03 lower at S$12.73. 

US stocks concluded a downcast week as markets weighed instability in the Middle East and uncertainty over monetary policy.

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The broad-based S&P 500 finished at 4,117.37, down 0.5 per cent for the day and off more than 10 per cent from Jul 31. The Dow Jones Industrial Average fell 1.1 per cent to 32,417.59, while the tech-rich Nasdaq Composite Index gained 0.4 per cent to 12,643.01.

In Europe, shares fell to near seven-month lows to clock a second week of losses.

The pan-European Stoxx 600 closed 0.8 per cent lower at 429.58, dragged by declines in the healthcare sector.