Singapore stocks open lower on Thursday; STI down 0.3%
SINGAPORE stocks fell in early trade on Thursday (Mar 2), following losses in US and Europe markets.
The Straits Times Index (STI) fell 0.3 per cent or 8.54 points to 3,246.54 as at 9.02 am. Losers outnumbered gainers 71 to 61 after 331.5 million securities worth S$82.9 million changed hands.
Sembcorp Marine was the most actively traded counter on Thursday morning, with 299.2 million of its securities changing hands. It was up 3.5 per cent or S$0.004 at S$0.119.
Disa was also briskly traded in terms of volume, with 3.1 million shares transacted at Thursday’s open. The investment holding company lost 33.3 per cent or S$0.001 to S$0.002.
Oceanus Group was among the top five actively traded counters, with 2.3 million of its shares changing hands in early trade. The seafood supplier decreased 14.3 per cent or S$0.002 at S$0.012.
The trio of local banks experienced losses on Thursday morning. DBS was down 0.5 per cent or S$0.17 at S$33.83, while UOB also fell 0.5 per cent or S$0.14 to S$29.79. OCBC declined 0.2 per cent or S$0.02 to S$12.51.
Wall Street stocks ended lower on Wednesday, as US Treasury yields hit a multi-month high, following new data which indicated continued inflation. The Dow Jones Industrial Average ended flat at 32,661.84, while the broad-based S&P 500 dropped 0.5 per cent to 3,951.39. The tech-rich Nasdaq Composite Index fell 0.7 per cent to 11,379.48.
Europe shares ended lower, as shares of the eurozone’s biggest bank BNP Paribas fell, while miners and luxury firms that are exposed to China limited losses after strong data from the country alleviated worries of an economic slowdown. The Stoxx 600 fell 0.7 per cent to 457.68 at the close.
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