Singapore shares open 0.92% down on Thursday

SINGAPORE stocks fell early Thursday, following overnight declines in the US markets, with the Straits Times Index dropping 0.92 per cent, or 29.59 points, to 3,194.51 as at 9.02am.

With 83.6 million shares worth S$107.1 million traded, there were 151 losers for every 23 gainers, a relatively lopsided 13 down for every two up.

Singapore Telecommunications fell 1.1 per cent, or 4 Singapore cents, to S$3.71. The telco had reported a 1.8 per cent growth in net profit for its fiscal fourth-quarter before the market opened.

DBS Group Holdings retreated by 1.25 per cent, or 26 Singapore cents, to S$20.54, while City Developments shed 0.5 per cent, or 5 Singapore cents, to S$10.28.