Singapore shares took a dip again at Friday’s market open: STI down 0.5%

SINGAPORE: Singapore shares took a dip at Friday’s market open, Feb 9, following a mixed bag of global equities performance overnight, The Business Times reports.

The Straits Times Index (STI) was down by 0.5% or 14.16 points, settling at 3,128.75 by 9:01 am. Among the broader market, the number of stocks in the red outweighed those in the green, with 64 losers against 41 gainers, as 56.6 million securities worth S$76.8 million changed hands.

One of the busiest counters by volume was SMI Vantage, which saw 11.1% increase, reaching S$0.03 with 8.5 million securities traded. Singtel also saw brisk trading activity but ended down by 0.9% or S$0.02, settling at S$2.32. Meanwhile, Seatrium fell by 1.1% or S$0.001, closing at S$0.089.

Banking stocks displayed a mixed picture in early morning trading. DBS nudged up by 0.1% or S$0.02 to S$32.48. On the other hand, OCBC saw a decline of 0.7% or S$0.09, settling at S$12.89, while UOB slipped by 0.4% or S$0.11, closing at S$28.11.

Over in Wall Street, stocks came close to hitting a new high on Thursday, with continued robust earnings driving the market. The S&P 500 closed at 4,997.91, marking a 0.1% increase.

Similarly, the Dow Jones Industrial Average edged up by 0.1% to 38,726.33, and the Nasdaq Composite Index saw a 0.2% rise, reaching 15,793.72.

In Europe, shares ended the day slightly lower, with losses in healthcare stocks offsetting gains from strong corporate earnings. The pan-European Stoxx 600 closed 0.1% down at 485.27, after seeing an initial rise of up to 0.3% during the trading session. /TISG

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