Singapore stocks open little changed on Thursday; STI up 0.03%

SINGAPORE shares opened slightly up on Thursday (May 11) after international markets ended mixed on news of US inflation cooling. The Straits Times Index (STI) increased by 0.03 per cent or 0.82 point to 3,423.11 as at 9.03am. Gainers outnumbered losers at 82 to 38, after 71.6 million shares worth S$84.8 million were traded. Marine engineering group Seatrium was the top traded counter by volume with 11.3 million units changing hands, though its share price remained unchanged at S$1.46. 

Gaming and resorts developer Genting Singapore was another briskly-traded index stock, with its share price increasing 0.9 per cent or S$0.01 to S$1.11. Shares of investment holding company The Place Holdings increased S$0.002 or 22.2 per cent to S$0.10 after its trading halt was lifted on Thursday.

The trio of local banks opened mixed with DBS down 0.3 per cent or S$0.08 to S$31.54. UOB’s shares were also down, losing 0.1 per cent or S$0.03 to S$28.09. OCBC gained 0.5 per cent, or S$0.06 to S$12.38. 

US indices were mostly up after the release of US consumer price index data, which missed expectations slightly at 4.9 per cent. 

The Dow Jones Industrial Average closed 0.1 per cent lower at 33,531.33, while the S&P 500 gained 0.5 per cent to 4,137.64, and the Nasdaq Composite Index gained 1 per cent to 12,306.44.  

The European Stoxx 600 closed 0.4 per cent lower or 1.77 points to 463.64, weathering expected losses due to US inflation with a brace of positive corporate results.