Singapore stocks fall at Wednesday’s open; STI down 0.1%

SINGAPORE stocks edged down in early trade on Wednesday (Feb 22), following losses in the US and Europe markets. 

The Straits Times Index (STI) dropped 0.1 per cent or 3.75 points to 3,303.11 as at 9.01 am. Losers outnumbered gainers 80 to 38 after 63.9 million securities worth S$57.6 million changed hands. 

Sembcorp Marine was the most actively traded counter, with 10.5 million of its securities changing hands. The group traded at S$0.126, down 1.6 per cent or S$0.002, as at 9.01 am.

Mapletree Logistics Trust was also actively traded in terms of volume, with 3.1 million units transacted on Wednesday morning. The trust was down 1.2 per cent or S$0.02 at S$1.67.

Genting Singapore was briskly traded as well, with 1.6 million of its shares changing hands. The integrated resort operator was down 1 per cent or S$0.01 at S$1, as at 9.01 am.

Banking stocks were mixed at Wednesday’s open. DBS was up 0.2 per cent or S$0.07 at S$34.93, while UOB gained 0.7 per cent or S$0.22 to S$30.87. However, OCBC slipped 0.9 per cent or S$0.12 to S$12.92.

SEE ALSO

Stocks to watch: Wilmar, SIA, CapitaLand Investment, Great Eastern, Nanofilm, Vicom

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Wall Street stocks finished decisively lower on Tuesday as angst over more Federal Reserve interest rate hikes in the pipeline added to the hit from retailers’ lacklustre forecasts. The Dow Jones Industrial Average ended 2.1 per cent lower – down nearly 700 points – at 33,129.59, while the broad-based S&P 500 shed 2 per cent to 3,997.34. Meanwhile, the tech-rich Nasdaq Composite Index dropped 2.5 per cent to 11,492.3.

European shares also slipped on Tuesday after strong economic data fuelled expectations of higher interest rates, with the pan-European Stoxx 600 index dipping 0.2 per cent to close at 463.77.