Singapore shares open 0.7% down

SINGAPORE shares opened 0.7 per cent lower as at 9.03 am on Friday, with the Straits Times Index down 19.5 points to 2,826.24 after US Federal Reserve chairwoman Janet Yellen said in overnight remarks that she was personally supportive of a rate hike this year.

The banks weighed on the index, with DBS Group Holdings down by 1.5 per cent or 25 Singapore cents to change hands at S$16.65 as at 9.03 am. OCBC Bank slipped 0.3 per cent or three Singapore cents to trade at S$8.88, while United Overseas Bank eased by 0.7 per cent or 14 Singapore cents to cross at S$18.83.

About 85.1 million shares worth S$98 million in total changed hands.

Medtecs International was among the most active right out of the gate, jumping 15.1 per cent or 0.8 Singapore cent to trade at 6.1 Singapore cents with 5.9 million shares changing hands.

Losers outnumbered gainers 82 to 70, or about seven down for every six up.