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Singapore stocks traded lower on Tuesday’s open—STI slipped 0.1%

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SINGAPORE: Singapore shares traded lower on Tuesday’s open after mixed results from overseas markets. The Straits Times Index (STI) slipped 0.1%, or 3.64 points, to 3,788.06 at 9:01 am, as reported by The Business Times.

In the broader market, 64 stocks advanced while 40 declined, with 40.5 million securities valued at S$80.9 million traded.

Oceanus Group, a seafood supplier, led in trading volume with 3.4 million units exchanged. It traded flat at S$0.006. Yangzijiang Shipbuilding, another actively traded counter, advanced 2%, or S$0.06, to S$3.01.

Meanwhile, GKE Corporation, a logistics provider, retreated 8.7%, or S$0.009, to S$0.095.

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All three major banks declined at the open. UOB slipped 0.2%, or S$0.07, to S$36.73. OCBC edged down 0.1%, or S$0.02, to S$16.95, while DBS fell by 0.5%, or S$0.21, to S$43.86.

In the US, stocks ended mostly higher on Monday, with two of the three major indices closing higher, rising Treasury bond yields, and shifting monetary policy expectations.

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The Dow Jones Industrial Average gained 0.9% to 42,297.12. The S&P 500 edged up 0.2%, ending at 5,836.22. However, the Nasdaq Composite Index dropped 0.4% to 19,088.10.

European shares dropped to a one-week low amid a market sell-off triggered by US jobs data, which raised expectations of a more cautious approach from the Federal Reserve regarding interest rate cuts this year. The pan-European Stoxx 600 Index fell 0.6% to 508.68. /TISG

Read also: Singapore stocks traded lower on Monday’s open—STI dropped 0.3%

Featured image by Depositphotos

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