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Singapore shares open lower on Wednesday; STI down 0.2% to 3,202.78


SINGAPORE stocks opened 0.2 per cent lower on Wednesday, with the Straits Times Index inching down by 7.73 points to 3,202.78 as at 9.05am.

The field was roughly evenly matched, with 52 gainers to 57 losers, as 51.5 million shares worth S$49.8 million in total changed hands.

The most actively traded counter was Nico Steel with 16.5 million shares traded, flat at 0.3 Singapore cent. AEM was the second most-traded counter with four million shares traded, up 4.24 per cent or 3.5 Singapore cents to 86 Singapore cents.

Among active index stocks, DBS Group Holdings inched down 0.04 per cent or one Singapore cent to S$24.98, with OCBC Bank also down 0.27 per cent, or three Singapore cents, to S$11.25.

US stocks dipped on Tuesday, reopening after a public holiday, as a drop in heavyweights Facebook and Nike added to worries over trade negotiations between the United States and other major economies.

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Nike dropped 2.1 per cent, the top drag on the Dow Jones Industrial Average, as calls for a boycott of the sportswear giant gained traction on social media after it chose Colin Kaepernick as a face for adverts marking the 30th anniversary of its "Just Do It" slogan.

Meanwhile, Tokyo stocks opened lower on Wednesday, extending losses on global bourses amid continued worries about trade conflicts.

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