Singapore stocks open lower on Tuesday; STI down 0.2%

SINGAPORE shares opened lower on Tuesday (Jun 20), after European markets ended lower as investors waited for further cues on the US Federal Reserve’s monetary policy outlook.

As at 9.01 am, the Straits Times Index was down 7.52 points or 0.2 per cent to 3,233.65. Across the broader market, losers outnumbered gainers 56 to 43 after 27.2 million securities worth S$29.2 million changed hands.

IT services management company SinoCloud Group was the top-traded counter by volume, rising 2.3 per cent or S$0.001 to S$0.045 with 3.8 million shares transacted.

Marco Polo Marine was also briskly traded, rising 1.8 per cent or S$0.001 to S$0.058.

On the other hand, Genting Singapore lost 0.5 per cent or S$0.005 to S$0.96.

The three local banks were mixed in early trade. UOB was flat at S$27.82, while DBS dropped 0.3 per cent or S$0.08 to S$31.03. OCBC declined 0.2 per cent or S$0.03 to S$12.56.  

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US indices were closed on Monday in observance of a public holiday.  

With investors waiting out for the Fed’s next rate outlook and further stimulus measures from China to revive its economy, the pan-European Stoxx 600 index closed 1 per cent or 4.76 points lower at 462.04 on Monday.