Singapore stocks open lower on Wednesday; STI down 0.1%

SINGAPORE stocks opened weaker on Wednesday (Jul 5), following cautious sentiments in the European market amid global economic uncertainties.

The Straits Times Index (STI) headed down 0.1 per cent or 4.38 points to 3,199.39 as at 9.01 am. Losers outnumbered gainers 47 to 37 after 79.5 million securities worth S$35.9 million changed hands.

The most active counter by volume was Seatrium , which rose 1.6 per cent or S$0.002 to S$0.126 with 35.4 million shares changing hands.

Other heavily traded securities included Advanced Systems , which declined 50 per cent or S$0.001 to S$0.001 with 12.9 million shares transacted, and Golden Energy , which held steady at S$0.181 with 9.7 million shares changing hands.

The trio of local banks opened lower on Wednesday morning. DBS lost 0.1 per cent or S$0.04 to S$31.38. UOB slipped 0.1 per cent or S$0.03 to S$27.89, while OCBC fell 0.2 per cent or S$0.03 to S$12.32.

US markets were closed for the Independence Day holiday.

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In Europe, shares were steady in thin trading on Tuesday as investors stayed cautious due to the lack of fresh economic data from the region and uncertainty around the direction of global interest rates. The pan-European Stoxx 600 index inched up 0.1 per cent to 461.3 after trading within a two-point range during the day.