Singapore stocks open Monday lower; STI down 0.1%

SINGAPORE shares started the week lower after US equities ended down on Friday.

As at 9.01am, the Straits Times Index (STI) was down 4.19 points or 0.1 per cent to 3,204.36. Losers outnumbered gainers 75 to 51 after 63 million securities worth S$64.5 million changed hands.

Seatrium was the morning’s top-traded counter in terms of volume, rising S$0.001 or 0.8 per cent to S$0.125 after 14.8 million of its shares were traded.

Index counters Thai Beverage and Singtel were also actively traded. The beverage giant was trading S$0.015 or 2.5 per cent higher at S$0.605, while the telecommunications provider rose S$0.02 or 0.8 per cent to S$2.59.

Genting Singapore , another STI constituent, fell S$0.04 or 3.6 per cent to S$1.07.

The trio of local banks were all trading lower at the open. DBS fell S$0.18 or 0.6 per cent to S$30.48, while UOB shed S$0.03 or 0.1 per cent to S$27.74. OCBC inched down S$0.02 or 0.2 per cent to trade at S$12.23.

Wall Street equities retreated slightly at Friday’s close after it was announced that key talks between President Joe Biden and Republican congressional leaders would be postponed.

The Dow Jones Industrial Average dipped less than 0.1 per cent to 33,300.62. The broad-based S&P 500 shed 0.2 per cent to 4,124.08, while the tech-rich Nasdaq Composite Index declined 0.4 per cent to 12,284.74.

Over in Europe, shares ended the week higher on upbeat results from luxury giant Richemont, as well as gains in energy stocks.

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The pan-European Stoxx 600 index closed Friday 0.4 per cent up at 465.49.