Singapore stocks fall again on Tuesday—STI dropped by 0.3%

SINGAPORE: Singapore stocks fall again on Tuesday morning despite gains in global markets overnight.

The Business Times reports that the Straits Times Index (STI) dropped 8.54 points or 0.3% to 3,273.51 as of 9:01 am.

Market activity showed an equal number of gainers and losers, with 51 stocks on each side, while trading volume amounted to 60.9 million securities valued at S$48.6 million.

Seatrium experienced the highest trading volume, with its shares rising by 2.15%. However, the stock fell by 1.1% or S$0.001 to S$0.092 after 30.7 million securities changed hands.

Other actively traded stocks included Disa, which maintained its price at S$0.002 despite trading 3.6 million shares, and Yoma Strategic, which saw a 4.3% increase to S$0.049 after 2.8 million securities were traded.

Banking stocks faced downward pressure during early trading. DBS declined by 0.5% or S$0.18 to S$34.60, OCBC dropped 0.4% or S$0.05 to S$14.16, and UOB slipped by 0.4% or S$0.11 to S$30.39.

In global markets, Wall Street experienced slight gains on Monday ahead of the Federal Reserve’s interest rate decision and the release of crucial earnings reports and economic data in the US this week.

The Nasdaq Composite Index rose by 0.4% to 15,983.08, the S&P 500 increased by 0.3% to 5,116.17, and the Dow Jones Industrial Average climbed 0.4% to 38,386.09.

Meanwhile, European stocks lost momentum on Monday following higher-than-expected inflation in Germany. The pan-European Stoxx 600 managed to gain 0.1%, closing at 508.34. /TISG

Read also: Singapore shares fall on Monday—STI dipped by 0.3%

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