Singapore stocks open flat on Monday; STI up 0.03%

SINGAPORE shares were little changed at the start of the week, after similarly ending broadly unchanged on Friday amid a mixed performance across the region.

The benchmark Straits Times Index (STI) edged up 0.81 point or 0.03 per cent to 2,498.52 as at 9.06am on Monday. Advancers edged out decliners slightly at 68 to 66, after about 69.6 million securities worth S$44.2 million changed hands.

The most heavily traded counter by volume was Sembcorp Marine, which rose 0.2 Singapore cent or 1.3 per cent to 15.9 cents, with 8.5 million shares traded.

Also heavily traded was Synagie, which advanced 4.7 per cent or one Singapore cent to 22.5 cents, with six million shares changing hands. This comes after the Catalist-listed firm last week said it is partnering computer manufacturers to expand its insurtech business.

The trio of local lenders were up in early trade. DBS rose S$0.06 or 0.3 per cent to S$20.11, UOB added S$0.04 or 0.2 per cent to S$19.25, while OCBC gained S$0.02 or 0.2 per cent to S$8.52.

Other active securities include Medtecs International, which advanced S$0.05 or 4.7 per cent to S$1.12. The Singapore bourse last week queried the medical apparel maker on its "unusual" price movements for the day - the counter shed 9.3 per cent or S$0.11 to close at S$1.07 on Friday.

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Over on Wall Street, US stocks fell on Friday as the tech slide dragged on. The Dow Jones Industrial Average fell 244.56 points or 0.9 per cent to 27,657.42, the S&P 500 lost 37.54 points or 1.1 per cent to 3,319.47, while the Nasdaq Composite dropped 117 points or 1.1 per cent to 10,793.28.

Likewise, European shares slipped on Friday as travel shares sank. The Stoxx Europe 600 Index fell 0.7 per cent at the close, trimming its weekly gain to just 0.2 per cent.