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Singapore shares open slightly lower; STI down 0.05% to 3,144.50 on Friday
SINGAPORE shares on Friday morning treaded water in a tepid opening, reversing small gains made this week, as markets waited for confirmation of a Mexico tariff delay. The Straits Times Index was down 1.68 points or 0.05 per cent to 3,144.50 as at 9.05am.
About 25.7 million shares worth S$72.1 million changed hands, which worked out to an average unit price of S$2.81 per share.
Gainers outnumbered losers 52 to 43.
The most actively traded stock was Yangzijiang Shipbuilding Holdings, which traded unchanged at S$1.40 with 3.2 million shares changing hands. Other actives included Lippo Malls Indonesia Retail Trust and Singapore Technologies Engineering.
Among financials, DBS Group Holdings was flat at S$24.25; OCBC Bank shares dipped S$0.01 or 0.1 per cent at S$10.56, while United Overseas Bank gained S$0.15 or 0.6 per cent to S$24.11.
Among other index stocks, Singtel was trading up one Singapore cent or 0.3 per cent at S$3.26 with about 505,600 shares changing hands. Meanwhile, Ascendas Reit units traded flat at S$2.93.
US stocks finished higher for a third straight session on Thursday following a report that the White House could delay tariffs on Mexican imports.
Europe stocks were mixed, with the Stoxx Europe 600 Index down 0.02 per cent and UK's FTSE 100 up 0.55 per cent.
Germany's DAX lost 0.2 per cent, while French stocks fell 0.3 per cent.
"Lighter volume could be seen in the day with various Asia markets including the likes of Hong Kong, China and Taiwan being away while Indonesia remains so until next week," said IG market strategist Jingyi Pan. "Early movers had as expectedly tailed the US in gains as can be seen with the ASX 200 and Nikkei 225’s 0.4 per cent upsides."
Amid a light data day for Asia, investors will focus on the US labour market update later on Friday, she said.