Singapore stocks open lower on Tuesday, STI down 0.1%

SINGAPORE stocks opened lower on Tuesday (Jan 17) amid gains in Europe. Meanwhile, US markets closed for Martin Luther King Jr. Day.

The Straits Times Index (STI) dipped 0.1 per cent or 2.86 points to 3,280.74 as at 9.01 am. Gainers outnumbered losers 62 to 35 after 22.3 million securities worth S$29.7 million changed hands.

This comes after statistics released by Enterprise Singapore showed a 7.7 per cent trade decline last December, following the 2.4 per cent dip in the preceding month. Total exports dropped by 7.1 per cent, following the previous month’s 4.5 per cent decrease while total imports decreased by 8.2 per cent, compared to the flat performance last November.

MarcoPolo Marine was the top traded securities with 2.2 million in volume. It remained unmoved at S$0.041.

Oceanus , was one of the most traded stocks. It rose 14.3 per cent or S$0.002 to S$0.016 with 800,000 shares changing hands.

Meanwhile, Frasers Logistics & Commercial Trust also remained unmoved at S$1.2 with 800,100 units being traded.

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Activity for the trio of local banks also slowed. DBS , which was the most traded stock among the banks at 185,200, remained unmoved at S$34.87. Meanwhile, UOB and OCBC both dipped 0.2 per cent and 0.3 per cent respectively to S$29.59 and S$12.61.

Europe shares continued to rally on Monday, hitting a near nine-month high. Stoxx 600 closed up 0.5 per cent at 454.6, its highest level since April. The index has also gained 6.6 per cent since the beginning of 2023.