Singapore shares open flat on Monday; DBS falls

SINGAPORE shares opened flat on Monday, with the Straits Times Index dropping 0.85 points to 3,381.46 as at 9.04 am.

About 71.9 million shares worth S$97.6 million in total changed hands.

DBS Bank, which announced a 25 per cent drop in Q3 earnings, traded at S$22.69, down 28 Singapore cents or 1.22 per cent as at 10.38am on Monday. In an indication of the extent of weakness in the oil and gas segment, specific allowances for credit and other losses were raised to S$815 million, 87 per cent higher than the S$436 million the bank recorded a year ago.

The most actively traded counter was Rowsley, which fell S$0.003 to S$0.132 with 19.8 million shares changing hands. Other actives included DISA and Rex International.

Gainers outpaced losers 83 to 42.