Singapore stocks fall at Wednesday’s open; STI down 0.4%
SINGAPORE shares dipped on Wednesday (May 15) morning, dragged mainly by index counter declines after a global rally overnight.
As at 9.01 am, the Straits Times Index (STI) shed 11.78 points or 0.4 per cent to 3,301.57. Across the broader market, gainers outnumbered losers 62 to 60 after 68.2 million securities worth S$90.5 million changed hands.
Mapletree Pan Asia Commercial Trust was the most actively traded counter in terms of volume, shedding S$0.05 or 4 per cent to S$1.19 with 11 million units transacted. Units of Mapletree Logistics Trust lost S$0.07 or 5.2 per cent to S$1.29 amid heavy trading as well.
Seatrium lost S$0.09 or 5 per cent to S$1.71.
Banking stocks were mixed during early trade. DBS fell S$0.15 or 0.4 per cent to S$35.31, and UOB declined S$0.06 or 0.2 per cent to S$29.83. OCBC gained S$0.03 or 0.2 per cent to S$14.43.
In the US, stocks rallied on Tuesday to shrug off data where April wholesale inflation topped expectations.
The tech-focused Nasdaq rose 0.8 per cent to finish at a new record of 16,511.18. The Dow Jones Industrial Average rose 0.3 per cent to 39,558.11, while the broad-based S&P 500 gained 0.5 per cent to 5,246.68.
European shares ended Tuesday at a new high as Germany’s Delivery Hero notched a record jump on the sale of its Taiwan foodpanda business.
The pan-European Stoxx 600 inched up 0.2 per cent to 521.65 with the vehicles sector leading sectoral gains.
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