Singapore shares open lower on Tuesday; STI down 0.1%

SINGAPORE shares opened lower on Tuesday after US markets ended in the red overnight.

The Straits Times Index (STI) lost 3.51 points or 0.1 per cent to 2,802.44 as at 9.05am.

Gainers outnumbered losers 95 to 56, after 125.8 million securities worth S$135.7 million changed hands.

Yangzijiang Shipbuilding was the most traded counter in the morning, rising 3.5 Singapore cents or 4 per cent to 91.5 cents after 24.4 million shares were traded.

This comes after the Chinese shipbuilder on Monday said it signed agreements to build and deliver nine vessels worth about US$226 million.

Another active counter, Sembcorp Marine, was up 0.2 Singapore cent or 1.2 per cent at 16.4 cents after 10.6 million shares changed hands.

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Meanwhile, Singapore Telecommunications slipped S$0.02 or 0.8 per cent to S$2.37 on 3.9 million shares traded.

Among local banks, DBS lost S$0.06 or 0.2 per cent to S$25.14, UOB was unchanged at S$22.51 and OCBC declined S$0.14 or 1.4 per cent to S$9.94.

In the US, the Dow Jones Industrial Average suffered a 0.9 per cent drop in Monday's session to finish at 29,638.64, but that is nearly a 12 per cent gain for all of November, making it the best month since January 1987.

The broad-based S&P 500 dropped 0.5 per cent to 3,621.63, while the tech-rich Nasdaq Composite Index slipped 0.1 per cent to 12,198.74.

Elsewhere in Asia, Tokyo stocks opened higher. The benchmark Nikkei 225 index was up 1 per cent or 250.40 points at 26,684.02 in early trade, while the broader Topix index gained 0.8 per cent or 13.73 points to 1,768.65.