Singapore shares retreat at Tuesday’s open; STI down 0.1%
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SINGAPORE stocks edged down on Tuesday (Jul 16) following a mixed showing in markets in the US and Europe where sentiment was shaky in the aftermath of the assassination attempt on Donald Trump over the weekend.
Singapore’s Straits Times Index inched 0.1 per cent or 4.06 points lower to 3,495.83 as at 9.01 am. Across the broader market, losers outnumbered gainers 53 to 44 after 34.8 million securities worth S$65 million changed hands.
The most active counter by volume was Yangzijiang Shipbuilding , which gained 3.5 per cent or S$0.08 to hit S$2.38, with 3.5 million shares traded. On Monday, the mainboard-listed shipbuilder said it agreed to acquire land for the establishment of a new clean energy ship manufacturing base.
Other heavily traded securities included Singtel , which lost 1 per cent or S$0.03 to S$2.98, with 2.9 million shares traded, as well as Marco Polo Marine , which was trading 1.6 per cent or S$0.001 higher at S$0.062, with 1.7 million shares traded.
Banking stocks declined in early morning trade. DBS shed 0.3 per cent or S$0.13 to S$37.77, UOB was muted at S$32.95, while OCBC fell 0.6 per cent or S$0.09 to S$15.24.
In the US, the blue-chip Dow Jones Industrial Average hit a record on Monday as markets took in the weekend assassination attempt on Donald Trump, amid steady bank earnings and benign Federal Reserve commentary.
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The Dow added 0.5 per cent to finish at 40,211.72, a first since mid-May. The tech-rich Nasdaq Composite Index rose 0.4 per cent to 18,472.57, and the broad-based S&P 500 advanced 0.3 per cent at 5,631.22.
European shares, meanwhile, finished lower on Monday following under-optimistic updates from the luxury sector and weak sentiment from Trump’s assassination attempt. The continent-wide Stoxx 600 closed 1 per cent lower at 518.73, ending a three-session win streak.
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