Singapore stocks open lower on Monday; STI down 0.1%

SINGAPORE equities were pulled into negative territory on Monday (Mar 11) morning after global equities ended the prior week mixed.

As at 9.01 am, the Straits Times Index (STI) fell 2.48 points or 0.1 per cent to 3,144.61. Across the broader market, losers outnumbered gainers 54 to 36 after 23.4 million securities worth S$33.1 million changed hands.

Geo Energy Resources was the most actively traded counter of the morning in terms of volume, rising S$0.015 or 4.1 per cent to S$0.38 after 3.5 million of its securities were transacted.

Yangzijiang Shipbuilding was briskly traded as well, gaining S$0.01 or 0.5 per cent to S$1.85. Units of Mapletree Logistics Trust shed S$0.03 or 2 per cent to trade at S$1.45.

The trio of local banks were up in early trade, with DBS rising S$0.14 or 0.4 per cent to S$33.89. UOB gained S$0.01 and was nearly flat at S$28.31, and OCBC climbed S$0.07 or 0.5 per cent to reach S$13.25.

Wall Street indices were in the red at Friday’s close following a labour market report that showed an unexpected rise in unemployment rates.

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Stocks to watch: Sembcorp, CDL, CapitaLand Ascott Trust, Japfa

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The Dow Jones Industrial Average closed 0.2 per cent lower at 38,722.69, and the S&P 500 ended 0.7 per cent down to 5,123.69. The tech-rich Nasdaq shed 1.2 per cent to 16,085.11.

European shares ended Friday flat though still notching strong gains over the week.

Although the pan-European Stoxx 600 closed relatively flat at 503.26, it represented an all-time high and the index’s seventh straight weekly advance.