Singapore stocks open muted on Tuesday; STI up 0.01%

SINGAPORE stocks began trading on Tuesday (May 14) morning in muted tones, mirroring the cautious sentiment on global markets where investors await key inflation data.

Singapore’s Straits Times Index (STI) rose 0.01 per cent or 0.19 points to 3,303.85 as at 9.03 am. Across the broader market, gainers outnumbered losers 80 to 46 after 52.5 million securities worth S$64.8 million changed hands.

The most active counter by volume was Keppel Infrastructure Trust , which held steady at S$0.455 with 5.7 million shares changing hands.

Other heavily traded securities included Yangzijiang Financial Holding , which gained 1.6 per cent or S$0.005 at S$0.325 with 5.2 million shares transacted, and Genting Singapore , which rose 1.1 per cent or S$0.01 to S$0.935.

Banking stocks traded mixed on Tuesday morning. DBS lost 0.2 per cent or S$0.06 to S$35.31, while OCBC advanced 0.3 per cent or S$0.04 to S$14.32. UOB lost 0.2 per cent or S$0.06 to S$30.15.

US indices closed Monday mixed as investors awaited Wednesday’s consumer price index report for April. The Dow Jones Industrial Average declined 0.2 per cent to 39,431.51, ending an eight-day winning streak. The broad-based S&P 500 was flat at 5,221.42, while the tech-rich Nasdaq Composite gained 0.3 per cent to 16,388.24.

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Stocks to watch: ThaiBev, OCBC, Bumitama Agri, Sasseur Reit, SBS Transit, LHN

Over in Europe, pan-European Stoxx 600 rose 0.02 per cent, not too far from record high levels registered last Friday.