Singapore stocks open lower on Monday; STI down 0.3%

SINGAPORE stocks fell in early trade on Monday (Feb 27), following losses in US and Europe markets.  

The Straits Times Index (STI) fell 0.3 per cent or 9.41 points to 3,272.89 as at 9.01 am. Losers outnumbered gainers 83 to 35 after 63.8 million securities worth S$49.8 million changed hands. 

Halcyon Agri was the most actively traded counter on Monday morning, with 23.3 million of its securities changing hands. The rubber producer remained unchanged at S$0.41. 

Sembcorp Marine was also briskly traded in terms of volume, with 15.9 million shares transacted at Monday’s open. The counter was down 0.8 per cent or S$0.001 at S$0.127. 

Lippo Malls Indonesia Retail Trust was among the top five actively traded counters, with 5.8 million of its shares changing hands in early trade. The trust was down 6.7 per cent or S$0.002 at S$0.028. 

Activity for the three local banks was mixed at Monday’s open. OCBC remained flat at S$12.67, while UOB was also unchanged at S$29.85. DBS was down 0.2 per cent or S$0.06 at S$34.34. 

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Singapore stocks snap 4-day losing streak; STI up 0.5%

Wall Street stocks ended lower on Friday, following hot inflation data which enhanced worries over monetary policy. The Dow Jones Industrial Average declined 0.1 per cent to close at 32,816.92, while the broad-based S&P 500 dropped 1.1 per cent to 3,970.04. The tech-rich Nasdaq Composite Index fell 1.7 per cent to 11,394.94. 

Europe shares ended lower on Friday, as US economic data fuelled fears of more rate hikes to come. The Stoxx 600 fell 1 per cent to 457.7 at the close.