Singapore shares open muted after Wall Street slide; STI up 0.1%

SINGAPORE stocks opened slightly higher on Tuesday (Nov 29) following overnight losses on Wall Street and Europe.

The Straits Times Index headed down 0.1 per cent or 4.18 points to 3,244.24 as at 9.08 am. Gainers outnumbered losers 77 to 57, after 48.9 million securities worth S$76.5 million changed hands.

The most active counter by volume was Sembcorp Marine : S51 0%, which rose 0.8 per cent or S$0.001 to S$0.135, with 5.2 million shares traded as at 9.02 am.

Other heavily traded securities included ESR-Logos Reit : J91U 0%, which was up 1.5 per cent or S$0.005 to S$0.35, with three million shares traded, as well as Genting Singapore : G13 0%, which gained 0.6 per cent or S$0.005 to S$0.875, with 2.1 million shares changing hands.

Banking stocks rose in early morning trade. DBS : D05 0% was trading 0.2 per cent or S$0.08 higher at S$34.53, UOB : U11 0% was up 0.2 per cent or S$0.06 to S$30.36, while OCBC : O39 0% was up 0.1 per cent or S$0.01 to S$12.32 as at 9.02 am.

Other active index counters included Venture Corporation : V03 0%, which lost 1.2 per cent or S$0.20 to S$17.11, and Wilmar International : F34 0%, which advanced 1.2 per cent or S$0.05 to S$4.11.

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In the US, stocks retreated on Monday amid caution ahead of key US economic data and worries over China’s zero-Covid policy.

The Dow Jones Industrial Average closed 1.5 per cent lower at 33,849.46, while the broad-based S&P 500 shed 1.5 per cent as well to 3,963.94. The tech-rich Nasdaq Composite Index fell 1.6 per cent to 11,049.50.

In Europe, the pan-European indexed finished 0.7 per cent lower, sliding from last week’s peak in more than three months.