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Singapore shares fall at Wednesday’s open tracking US retreat; STI down 0.15%

SINGAPORE stocks opened slightly weaker on Wednesday, after Wall Street posted losses overnight.

The Straits Times Index inched down 0.15 per cent or 4.46 points to 3,063.06 as at 9.02am.

Losers outpaced gainers 44 to 41, with 19.1 million securities worth S$37.8 million changing hands.

The most heavily traded by volume was Keppel Infrastructure trust, which fell 0.97 per cent or 0.5 Singapore cent to 51 cents with 3.4 million units changing hands as at 9.01am. Singtel slipped 0.94 per cent or three cents to S$3.17 after 2.9 million shares traded, while Yangzijiang Shipbuilding tumbled 2.21 per cent or two Singapore cents to 88.5 cents with 0.9 million shares traded.

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Among banking stocks, DBS gained 0.21 per cent or five cents to S$24.22, UOB rose 0.12 per cent or three cents to S$24.49, while OCBC Bank dropped 0.19 per cent or two cents to S$10.56 as at 9.01am.

Other active index securities included CapitaLand which fell 0.3 per cent or one cent to S$3.37, and Ascendas Reit which was up 0.66 per cent or two cents to S$3.06 as.

ISOTeam was flat at S$0.23 as at 9.01am. The Catalist-listed firm swung back to black with a fourth-quarter net profit of S$2.9 million, recovering from a net loss of S$1.9 million a year ago.

US stocks had retreated at Tuesday’s close, pulling back from the short-lived optimism on the trade war with China that inspired a brief rally to start the week.

Elsewhere in Asia, Tokyo stocks opened modestly higher on Wednesday morning, as positive sentiment from China's announcement of stimulus and bargain-hunting purchases offset the negative impact of losses on Wall Street.