Singapore stocks open lower on Thursday; STI down 0.1%

SINGAPORE shares opened lower on Thursday (Jun 8), mirroring overnight losses in the global markets. 

The Straits Times Index (STI) was down 2.59 points or 0.1 per cent to 3,176.99 as at 9.01 am. Across the broader market, gainers outnumbered losers 57 to 39 after 32.8 million securities worth S$29.7 million changed hands.

Genting Singapore was actively traded in terms of volume, losing 1 per cent or S$0.01 to S$0.95 with 7.3 million shares changing hands at the open.

Seatrium was also actively traded, dipping 0.8 per cent or S$0.001 to S$0.122.

Meanwhile, index counter Singtel rose 0.4 per cent or S$0.01 to S$2.46 with 6.1 million shares trading on the exchange.

The trio of local banks were trading mixed at the open. DBS gained 0.3 per cent or S$0.09 to S$30.98 while UOB fell 0.4 per cent or S$0.12 to S$28.01. OCBC slipped S$0.02 or 0.2 per cent to S$12.31.

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Wall Street indices were mixed at Wednesday’s close, with investors moving away from tech-stocks towards industrial companies. 

The broad-based S&P 500 declined 0.4 per cent or 16.33 points to 4,267.52 while the tech-focused Nasdaq Composite Index slipped 171.52 points or 1.3 per cent to 13,104.90. The Dow Jones Industrial Average was, however, up 0.3 per cent or 91.74 points to 33,665.02. 

The pan-European Stoxx 600 declined 0.2 per cent or 0.88 points to 460.80, pulled down by healthcare stocks and concerns over the interest rates in the Eurozone.