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Singapore shares open lower on Friday; STI down 0.7% to 2,993.23

SINGAPORE stocks opened lower on the last trading day of the week, with the Straits Times Index retreating 19.61 points, or 0.7 per cent to 2,993.23 as at 9.05am on Friday.

Losers outnumbered gainers 71 to 55, as 60.5 million shares worth S$96.8 million in total changed hands.

The most actively traded counter was Rex International with 6.09 million shares changing hands, rising 1.16 per cent or 0.1 Singapore cent to 8.7 Singapore cents. Other actives included Golden Agri-Resources with 3.9 million shares traded, flat at 24.5 Singapore cents; and ThaiBev with 2.64 million units traded, sliding 1.59 per cent or 1 Singapore cent to 62 Singapore cents.

The three local banks dipped at the open. DBS eased 0.51 per cent, or 12 Singapore cents to S$23.59, while UOB fell 1.76 per cent or 44 Singapore cents to S$24.51. OCBC Bank lost 0.85 per cent, or nine Singapore cents to S$10.51.

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In Asia, Tokyo stocks opened higher on Friday, with sentiment buoyed by a rally on Wall Street.

Overnight, Wall Street rebounded strongly on Thursday from the prior session's rout, with tech shares leading a broad-based rally following a series of mostly good earnings reports.