Singapore shares slipped on Friday—STI down by 0.1%

SINGAPORE: Singapore shares slipped on Friday morning, following a trend of global market losses from the previous day.

The Business Times reports, as of 9:01 am, the Straits Times Index (STI) was down by 3.93 points or 0.1% to 3,283.82.

In the broader market, there were more losers than gainers, with 62 stocks declining compared to 45 advancing. Trading activity saw 32.7 million securities worth S$46 million changing hands.

Seatrium took the spotlight as the most actively traded counter by volume. The stock declined by 2.3% or S$0.002 to S$0.086, with a total of 6.9 million securities traded.

Other notable counters included Yangzijiang Shipbuilding, which fell by 1.7% or S$0.03 to S$1.72, with 3.4 million shares changing hands, and Southern Archipelago, which remained unchanged at S$0.002, with 2.1 million securities traded.

Banking stocks showed mixed performance, with DBS gaining 0.4% or S$0.13 to S$34.58, OCBC inching up by 0.1% or S$0.02 to S$14.35, and UOB trading flat at S$30.52.

On Wall Street, stocks faced a decline on Thursday due to weaker-than-expected US economic data, indicating a slowdown in consumer spending and exports. The Nasdaq Composite Index dropped by 0.6% to 15,611.76, while the S&P 500 dipped by 0.5% to 5,048.42. The Dow Jones Industrial Average ended 1% lower at 38,085.80.

In Europe, shares also retreated on Thursday, with investor sentiment affected by weak US economic data and losses in industrial goods. The pan-European Stoxx 600 closed at 502.38, down by 0.6%. /TISG

Read also: Singapore stocks declined on Thursday—STI dipped by 1.1%

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