Singapore stocks open lower on Tuesday; STI down 0.1%

SINGAPORE stocks fell in early trade on Tuesday (Mar 7) following mixed activity in US and Europe markets.  

The Straits Times Index (STI) fell 0.1 per cent or 2.7 points to 3,236.61 as at 9.01am. Losers outnumbered gainers 57 to 52 after 157 million securities worth S$67.9  million changed hands. 

Sembcorp Marine was the most actively traded on Tuesday morning, with 128.3 million of its securities changing hands at the open. The counter was down 1.8 per cent or S$0.002 at S$0.109. 

Thomson Medical Group was also actively traded in terms of volume with 3.9 million shares changing hands on Tuesday morning. The healthcare provider was up 1.4 per cent or S$0.001 to S$0.074. 

Thai Beverage was also among the top five actively traded counters in terms of volume, with 3.1 million of its shares changing hands in early trade. The beverage company was flat at S$0.65. 

The trio of local banks saw mixed activity on Tuesday morning. UOB was up 0.1 per cent or S$0.02 to S$29.52, while OCBC also rose 0.7 per cent or S$0.09 to S$12.59. Meanwhile, DBS was down 0.1 per cent or S$0.02 to S$33.80. 

SEE ALSO

Singapore stocks rise in tandem with region and Wall Street; STI up 0.2%

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Wall Street stocks ended slightly higher on Friday ahead of key jobs data and Federal Reserve chair Jerome Powell’s congressional testimony.

The Dow Jones Industrial Average rose 0.1 per cent to close at 33,431.64, while the broad-based S&P 500 also increased 0.1 per cent to 4,048.43. Meanwhile, the tech-rich Nasdaq Composite Index fell 0.1 per cent to 11,675.73. 

Europe shares ended flat after European Central Bank officials reiterated the need for more rate hikes while investors took in the lower-than-expected rebound in eurozone January retail sales. The Stoxx 600 ended flat at 464.18.