Singapore shares open muted on Tuesday; STI down 0.01%

SINGAPORE stocks were little changed on Tuesday (Sep 26), amid a mixed performance in global markets.

As at 9.01 am, the Straits Times Index (STI) dropped 0.31 point or 0.01 per cent to 3,215.09. Across the broader market, gainers outnumbered losers 51 to 47, with 25.7 million securities worth S$47.8 million changing hands.

The most actively traded stock in terms of volume was Yangzijiang Shipbuilding , with 2.8 million securities transacted. The counter rose S$0.01 or 0.6 per cent to S$1.72.

Another heavily traded counter was Seatrium ,which rose S$0.001 or 0.8 per cent to S$0.134.

Singtel was also briskly traded, gaining S$0.02 or 0.8 per cent to S$2.43.

Banking stocks were mixed in early morning trade. DBS fell S$0.12 or 0.4 per cent to S$33.33, UOB slipped S$0.14 or 0.5 per cent to S$28.31, while OCBC rose S$0.06 or 0.5 per cent to S$12.78.

In the US, Wall Street stocks scored modest gains on Monday as worries about a possible US government shutdown and lofty interest rates limited the bounce following recent weakness.

The Dow Jones Industrial Average edged up 0.1 per cent at 34,006.88. The broad-based S&P 500 gained 0.4 per cent to 4,337.44, while the tech-rich Nasdaq Composite Index advanced 0.5 per cent to 13,271.32.

European shares, on the other hand, closed at their weakest level in over a month as worries about interest rates staying elevated for longer and a slowing Chinese economy dented the mood.

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The pan-European Stoxx 600 index slid 0.6 per cent to 450.44, down for a third consecutive session.