Singapore shares decline at Monday's open; STI down 0.18%

SINGAPORE shares started the week lower, despite record-breaking sessions in the US on Friday night. The Straits Times Index lost 5.97 points or 0.18 per cent to 3,258.33 as at 9.06am.

Losers edged out gainers 76 to 69, after about 151.6 million shares worth about S$88.8 million changed hands.

The most actively traded security was Rex International, up S$0.006 or 3.1 per cent to S$0.199 after 20.8 million shares were traded. Other actives included Golden Agri-Resources and CWX Global.

Among financials, DBS was the sole lender in the green as it reported a 15 per cent increase in Q3 profit to S$1.63 billion, beating the S$1.57 billion consensus forecast in a Refinitiv survey of five analysts. Its shares rose S$0.10 or 0.4 per cent to S$26.71.

UOB lost S$0.08 or 0.3 per cent to S$26.87 while thinly-traded OCBC was down S$0.02 or 0.2 per cent to S$11.11.

US stocks forged higher on Friday and closed with new records for the second straight day despite being buffeted by fast-changing news in the US-China trade war.

After spending much of the day in the red, the benchmark Dow Jones Industrial Average squeaked into positive territory, closing a fraction above Thursday's record close at 27,681.24.

The broader S&P 500 rose 0.3 per cent to end the week at 3,092.95 while the tech-heavy Nasdaq gained 0.5 per cent, closing at 8,475.31.

In Europe, shares broke a five-day winning streak on Friday as the pan-European Stoxx 600 index ended 0.3 per cent lower after gaining 2.5 per cent over the last five sessions. Defensive plays including healthcare and utilities were the only sectors to rise, suggesting appetite for risk remained muted.

Elsewhere in Asia, Tokyo opened higher with its benchmark Nikkei 225 index climbing 0.21 per cent or 49.05 points at 23,440.92 in early trade, while the broader Topix index was up 0.36 per cent or 6.12 points at 1,708.89.