Singapore stocks flat at Wednesday’s open; STI down 0.01%

SINGAPORE stocks remained relatively unchanged at the opening bell on Wednesday (Jan 31), after a muted performance of global equities. 

The Straits Times Index (STI) edged down a marginal 0.01 per cent or 0.28 point to reach 3,149.76 as at 9.01 am. Across the broader market, losers outnumbered gainers 57 to 42 after 64.1 million securities worth S$63.3 million changed hands.

Seatrium was the most actively traded counter by volume in the morning, with 26.5 million shares changing hands. It declined 1 per cent or S$0.001 to S$0.104.

Geo Energy Resources was also briskly traded, rising 1.5 per cent or S$0.005 to S$0.35.

The trio of banking stocks traded mixed in the morning. DBS rose 0.2 per cent or S$0.05 to S$31.87. UOB lost 0.1 per cent or S$0.02 to S$28.24, while OCBC gained 0.4 per cent or S$0.05 to S$12.87.

US shares finished mixed on Tuesday ahead of the Federal Reserve’s interest rate decision, where traders and analysts will be looking for clues on when the central bank can start cutting rates. The Dow Jones Industrial Average rose 0.4 per cent to finish the day at 38,467.31. The broad-based S&P 500 slipped 0.1 per cent to 4,924.97, and the tech-rich Nasdaq Composite fell 0.8 per cent to 15,509.9. In Europe, shares closed slightly higher after hitting fresh two-year highs on Tuesday, as investors drew comfort from upbeat corporate updates. The pan-European Stoxx 600 index closed up 0.2 per cent at 485.63, in its fifth straight session of gains.