Singapore stocks open lower on Wednesday; STI down 0.2%

SINGAPORE shares fell on Wednesday (Apr 26) morning, mirroring losses in global markets.

As at 9.01 am, the Straits Times Index (STI) fell 0.2 per cent or 4.86 points to 3,291.7. Across the broader market, losers outnumbered gainers 75 to 47 after 40.9 million securities worth S$49.1 million changed hands.

Keppel Infrastructure Trust was the top-traded counter in terms of volume, with 10.8 million shares transacted. The counter remained flat at S$0.505.

Other heavily traded securities included Sembcorp Marine , which rose 0.8 per cent or S$0.001 to S$0.121. Thomson Medical increased 1.6 per cent or S$0.001 to S$0.065.

Index counter Singtel decreased 0.4 per cent or S$0.01 to S$2.45.

The three local banks were in the red. DBS fell 0.1 per cent or S$0.03 to S$32.88. UOB dropped 0.1 per cent or S$0.03 to S$29.37, while OCBC was down 0.2 per cent or S$0.02 to S$12.60.

SEE ALSO

Stocks to watch: Suntec Reit, FCT, CapitaLand Ascott Trust, ESR-Logos Reit, iFast, IReit Global

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Major US indices plummeted on Tuesday, as worries over the financial sector revived after First Republic Bank’s earnings report showed it lost a large amount of deposits. The Dow Jones Industrial Average slumped 1 per cent to 33,530.83, while the broad-based S&P 500 fell 1.6 per cent to 4,071.63. The tech-heavy Nasdaq Composite Index plunged 2 per cent to 11,799.16.

In Europe, stocks ended low on Tuesday, with Spanish stocks clocking their worst session in a month. The pan-European Stoxx 600 index dropped 0.4 per cent to 467.08 points, while Spain’s heavyweight Santander slid 6 per cent amid a disappointing round of earnings.