Singapore shares open lower on Wednesday; STI down 0.7%

SINGAPORE stocks opened lower on Wednesday, with the Straits Times Index shedding 24.84 points, or 0.7 per cent to 3,559.72 as at 9.01am.

This came after US stocks ended deep in the red overnight, recording the greatest one-day fall since April 6, with tech and industrial stocks proving the biggest laggards.

On the Singapore bourse, losers outnumbered gainers 110 to 22, after about 62.6 million shares worth S$163.5 million changed hands.

The most actively traded counters by volume were Ezion, which fell 3.8 per cent, or 0.6 Singapore cent to 15.2 Singapore cents with 13 million shares traded; and Magnus Energy which was flat at 0.1 Singapore cent, with 7.6 million shares traded.

Other active index stocks included Venture Corp which was down 3 per cent to S$22.70; and DBS which fell 0.8 per cent to S$29.74.