Singapore stocks fall at Tuesday’s open; STI down 0.3%
Bernadette Toh
SINGAPORE stocks fell in early trade on Tuesday (Jan 31) following losses in US and Europe markets.
The Straits Times Index (STI) dropped 0.3 per cent or 8.74 points to 3,369.55 as at 9.01 am. Losers outnumbered gainers 64 to 32 after 48.2 million securities worth S$48 million changed hands.
Media company The Place Holdings was the most actively traded counter, with 19.5 million of its securities changing hands. The group traded flat at S$0.015 as at 9.01 am.
Frasers Logistics & Commercial Trust was also actively traded in terms of volume, with 2.6 million shares transacted on Tuesday morning. The real estate investment trust was down 0.8 per cent or S$0.01 at S$1.26.
ComfortDelGro was briskly traded, with 1.3 million of its shares changing hands in early trade. The transport company was down 1.7 per cent or S$0.02 at S$1.19 as at 9.01 am.
The three local banks were mixed at Tuesday’s open. DBS was up 0.3 per cent or S$0.12 at S$35.80. Meanwhile, UOB fell 0.5 per cent or S$0.15 to S$29.92, while OCBC slipped 0.3 per cent or S$0.04 to S$12.95.
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Wall Street stocks ended lower on Monday, retreating ahead of key central bank announcements and corporate earnings.
The Dow Jones Industrial Average fell 0.8 per cent to close at 33,717.09, while the broad-based S&P 500 dropped 1.3 per cent to 4,017.77. Meanwhile, the tech-rich Nasdaq Composite Index sank 2 per cent to 11,393.81.
Shares in Europe also slipped lower on Monday as hotter-than-expected inflation data from Spain added to market jitters and investors brace for a slew of interest rate hikes from prominent central banks later in the week.
The pan-European Stoxx 600 closed 0.2 per cent lower at 454.4.
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