Singapore shares open 21.94 points lower on Thursday

SINGAPORE shares slumped on Thursday morning, with the Straits Times Index 21.94 points or 0.69 per cent lower at 3,164.07 as at 9.03am. Overnight, Wall Street stocks closed lower amid investor concerns on geopolitical risks and doubts over the prospects for US President Donald Trump's economic agenda.

The top losers in the early-morning trade included financials such as UOB and DBS, property counters CapitaLand and City Developments, and Singtel which is still being battered by TPG Telecom's successful bid for a share of the Australian mobile broadband pie.

Some 129.1 million shares worth S$87.2 million changed hands, with losers beating gainers 98 to 57.