Singapore stocks open lower on Friday; STI down 0.1%

SINGAPORE shares opened lower on Friday (Jun 9) after Wall Street booked overnight gains on improving sentiment.  

The Straits Times Index (STI) was down 0.1 per cent or 3.06 points to 3,183.55 at 9.02 am. Across the broader market, gainers outnumbered losers 56 to 48 with 92.4 million securities worth S$67.1 million changed hands.

Seatrium was the top traded stock by volume with 47.8 million shares changing hands. The index declined 0.8 per cent or S$0.001 to S$0.122 at the open. 

Thomson Medical was also actively traded, with its share price rising 6.8 per cent or S$0.004 to S$0.063.

Index counter Singtel posted a decline of 0.8 per cent or S$0.02 to S$2.43. 

The trio of local banks opened mixed on Friday morning. DBS was up 0.5 per cent or S$0.16 to S$31.26, and UOB gained 0.2 per cent or S$0.05 to S$28.35. OCBC fell 0.2 per cent or S$0.03 to S$12.36.

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Stocks to watch: Thomson Medical, Pasture

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US indices ended Thursday higher, reflecting better sentiment on the US economy and a consensus view that the interest rates’ hike by the Federal Reserve will not take place next week.

The Dow Jones Industrial Average closed 0.5 per cent higher or 168.59 points at 33,833.61, while the broad-based S&P 500 edged up 0.6 per cent to 4,293.93. The tech-focused Nasdaq Composite Index rose 1 per cent or 133.63 points to 13,238.52.

The European Stoxx 600 index finished flat at 0.02 per cent down at 460.7 points, largely brought down by technology stocks due to expectations of further interest rate hikes by major central banks.