Singapore stocks fall at Tuesday's open; STI down 0.3%

SINGAPORE shares opened weaker on Tuesday following a mixed close on Wall Street amid investor concerns over the risk of a US government shutdown.

The Straits Times Index (STI) slipped 0.3 per cent or 10.46 points to 3,089.84 as at 9.04am. Losers outnumbered gainers 73 to 55, after 178.8 million securities worth S$81.4 million changed hands.

The most active counter by volume was Sembcorp Marine, which rose 2.5 per cent or 0.2 Singapore cent to 8.3 cents, with 66.8 million shares changing hands.

Other heavily traded securities include FJ Benjamin, which gained 15.4 per cent or 0.4 Singapore cent to three cents, with 15.9 million shares traded, and VCPlus, which was up 8 per cent or 0.2 Singapore cent at 2.7 cents, with 11.6 million shares traded.

The Catalist-listed gold miner on Monday said it is acquiring technology consultancy firm APEC Solutions for S$5 million, in a bid to further its fintech ambition.

Banking stocks were mixed in early trade. DBS inched up 0.1 per cent or S$0.02 to S$30.02, UOB lost 0.2 per cent or S$0.06 to S$25.72, while OCBC fell 0.8 per cent or S$0.09 to S$11.53.

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Other active index counters include Yangzijiang Shipbuilding, which slipped 1.4 per cent or S$0.02 to S$1.38, and Wilmar International, which climbed 1 per cent or S$0.04 to S$4.15.

In the US, investors are bracing for a week of uncertainty trying to ascertain if Washington will avert a messy government shutdown. US lawmakers have until Sept 30 to pass a funding bill, even a temporary one, to keep the government operating.

The Dow Jones Industrial Average ended 0.2 per cent higher at 34,869.37. However, the broad-based S&P 500 shed 0.3 per cent to 4,443.11, while the tech-rich Nasdaq Composite Index lost 0.5 per cent to settle at 14,969.97.

Europe's Stoxx 600 index ended 0.2 per cent lower on Monday as declines in tech stocks offset gains in banks and energy counters.

Elsewhere in Asia, Tokyo stocks opened lower on Tuesday. The benchmark Nikkei 225 index was down 0.3 per cent at 30,156.42 in early trade, while the broader Topix index eased 0.2 per cent to 2,083.01.