Singapore shares open lower on Wednesday; STI down 0.1%

SINGAPORE shares started trading in negative territory on Wednesday (Aug 28) despite overnight gains in global markets.

As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 1.65 points lower at 3,396.82. Across the broader market, losers outnumbered gainers 51 to 48 after 25.9 million securities worth S$25.2 million changed hands.

The most actively traded counter by volume was Thai Beverage , which gained 2.9 per cent or S$0.015 to S$0.535, with 11.5 million shares changing hands.

Other heavily traded securities included Keppel Infrastructure Trust , which lost 4.3 per cent or S$0.02 to S$0.445. This comes after its private placement to raise S$200 million closed at S$0.438 apiece with 456.6 million new units issued.

Meanwhile, shares of Genting Singapore fell 3.1 per cent or S$0.025 to S$0.79.

Banking stocks were trading mixed at the open. DBS inched down 0.03 per cent or S$0.01 to S$35.89. OCBC slipped 0.1 per cent or S$0.02 to S$14.45. UOB rose 0.2 per cent or S$0.07 to S$31.10.

SEE ALSO

Stocks to watch: Keppel Infrastructure Trust, Wing Tai, Lum Chang

Asean Intelligence

Get insights into businesses across South-east Asia

Get the free report

Wall Street stocks ended Tuesday higher as markets await an earnings report by chipmaker Nvidia this week.

The broad-based S&P 500 gained 0.2 per cent to 5,625.8, as did the tech-rich Nasdaq Composite Index, which closed 0.2 per cent higher at 17,754.82. The Dow Jones Industrial Average was nearly flat at 41,250.5.

In Europe, shares finished higher amid gains in banking and travel stocks, though trading remained cautious ahead of key economic data later this week. The pan-European Stoxx 600 index edged 0.2 per cent higher to 518.88 points.