Singapore shares retreat at Tuesday’s open; STI down 0.2%

SINGAPORE stocks started trading in negative territory on Tuesday (Nov 12) morning, despite global markets logging overnight gains.

As at 9.01 am, the Straits Times Index (STI) opened 0.2 per cent or 8.88 points lower at 3,730.59. Across the broader market, gainers outnumbered losers 60 to 49 after 48.2 million securities worth S$63 million changed hands.

One of the most actively traded counters by volume was offshore and marine specialist Seatrium , which gained 0.5 per cent or S$0.01 to S$1.96, with 1.7 million shares changing hands.

Shares of Singtel were also briskly traded, falling 0.9 per cent or S$0.03 to S$3.17. CapitaLand China Trust’s units gained 0.7 per cent or S$0.005 to S$0.725.

Banking stocks were trading down at the open. DBS decreased 0.8 per cent or S$0.33 to S$42.42. OCBC declined 0.3 per cent or S$0.04 to S$16.28. UOB inched down 0.03 per cent or S$0.01 to S$36.64.

Wall Street stocks finished higher on Monday as gains from the surge in stocks, which followed Donald Trump’s US election victory, held steady. The Dow Jones Industrial Average rose 0.7 per cent, to 44,293.13, the S&P 500 rose 0.1 per cent, to 6,001.35 and the Nasdaq Composite was little changed at 19,298.76.

SEE ALSO

Stocks to watch: CICT, FHT, Riverstone, Food Empire, Lendlease Global Reit

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

In Europe, the main stock index logged its best day in six weeks, led by defence stocks amid prospects of higher military spending under a Donald Trump US presidency. The pan-European Stoxx 600 closed 1.1 per cent higher at 512.37 points.