Singapore Stocks Slip as Global Equities Show Mixed Signals

Singapore Stocks Slip as Global Equities Show Mixed Signals

Singapore equities started the week on a negative note, following mixed performances in global equities during the prior week.

As of 9:01 am, the Straits Times Index (STI) dipped by 2.48 points or 0.1 percent to 3,144.61. Market breadth leaned towards the negative side, with losers outnumbering gainers 54 to 36, while a total of 23.4 million securities worth S$33.1 million changed hands.

Top Movers:

  • Jeo Energy Resources (RE4 +2.74%): Emerged as the most actively traded counter, experiencing a 4.1 percent rise to S$0.38 after 3.5 million securities were transacted.
  • Yangzijiang Shipbuilding (BS6 +2.72%): Also saw brisk trading, climbing by 0.5 percent to S$1.85.
  • Mapletree Logistics Trust (M44U -1.35%): Witnessed a decline of 2 percent, with units trading at S$1.45.

Banking Sector:

The trio of local banks saw positive movements in early trading:

  • DBS (D05 -0.39%): Rose by 0.4 percent to S$33.89.
  • UOB (U11 -0.28%): Remained nearly flat at S$28.31, registering a minor gain of S$0.01.
  • OCBC (O39 -0.23%): Climbed by 0.5 percent to S$13.25, up by S$0.07.

Global Market Recap:

  • Wall Street: Ended Friday’s session in the red following an unexpected rise in unemployment rates. The Dow Jones Industrial Average closed 0.2 percent lower, while the S&P 500 and Nasdaq dropped by 0.7 percent and 1.2 percent, respectively.
  • European Shares: Closed flat on Friday but maintained strong gains for the week. The pan-European Stoxx 600 reached an all-time high, marking its seventh consecutive weekly advance, despite closing relatively unchanged at 503.26.