Singapore stocks open lower on Tuesday; STI down 0.2%

SINGAPORE shares opened lower on Tuesday (Jun 13) in contrast to largely positive trading sessions in the global markets.  

The Straits Times Index (STI) was down 6.85 points or 0.2 per cent to 3,189.22 as at 9.01am. Across the broader market, gainers slightly outnumbered losers 59 to 54 after 65.1 million securities worth S$41.4 million changed hands.

Catalist-listed 3Cnergy was the top traded stock by volume with 22.4 million shares traded, although its share price remained flat at S$0.003. The company earlier unveiled plans to undergo a reverse takeover by DTP Inter Holdings. 

Seatrium was also actively traded in terms of volume, gaining 0.8 per cent or S$0.001 to S$0.124.

Meanwhile, Hatten Land saw its share price rising 18.8 per cent or S$0.003 to S$0.019 after its announcement to lease out its mall space in Malacca to Quantum Healthcare.

The trio of local banks were trading lower at the open. DBS dropped 0.6 per cent or S$0.18 to S$31.07 while OCBC fell 0.3 per cent or S$0.04 to S$12.34. UOB also slipped S$0.05 or 0.2 per cent to S$28.05.

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Stocks to watch: Raffles Education, Hatten Land, Quantum Healthcare, Sheng Siong

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All three major US indices closed higher on Monday as investors are expecting the Federal Reserve to skip an interest rate increase after more than a year of hikes. 

The Dow Jones Industrial Average was up 0.6 per cent or 189.55 points to 34,066.33. The broad-based S&P 500 rose 0.9 per cent or 40.07 points to 4,338.93, while the tech-rich Nasdaq Composite Index jumped 202.78 points or 1.5 per cent to 13,461.92.

The pan-European Stoxx 600 gained 0.2 per cent or 0.72 points to 460.73, uplifted by gains in Adidas shares after an analyst upgrade and investors focus on the central banks meetings this week on interest rates.