Singapore stocks open lower on Tuesday; STI down 0.3%

SINGAPORE shares opened lower on Tuesday (Jun 6) following overnight losses in the global markets. 

The Straits Times Index (STI) was down 8.92 points or 0.3 per cent to 3,180.09 as at 9.01am. Across the broader market, losers outnumbered gainers 61 to 45 after 46.5 million securities worth S$49.1 million changed hands.

Seatrium was the top traded stock by volume, losing 1.6 per cent or S$0.002 to S$0.124 with 22 million shares changing hands. 

Matex International was also actively traded, rising 20 per cent or S$0.005 to S$0.03 after 4.5 million of securities changed hands at the open. 

Meanwhile, CapitaLand Integrated Commercial Trust fell 1.5 per cent or S$0.03 to S$1.98.

The trio of local banks were trading mixed at the open. DBS lost 0.5 per cent or S$0.14 to S$30.92, while OCBC saw a gain of 0.1 per cent or S$0.01 to S$12.34. UOB fell marginally by 0.04 per cent or S$0.01 to S$27.97.

All three US indices declined on Monday’s closing after investors took profit on last week’s rebound after Congress agreed to suspend the US debt default. 

The broad-based S&P 500 dipped 0.2 per cent or 8.58 points to 4,273.79 while the tech-focused Nasdaq Composite Index slipped 11.34 points or 0.1 per cent to 13,229.43. 

The Dow Jones Industrial Average also fell 0.6 per cent or 199.9 points to 33,562.86. 

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The pan-European Stoxx 600 saw a decline of 0.5 per cent or 2.22 points to 459.93, as investors took profits after last week’s gains and on concerns that weak US business activity signalled an economic slowdown.