Singapore shares took a dip on Thursday—STI dropped by 0.3%

SINGAPORE: Singapore shares took a dip on Thursday, after some less-than-stellar earnings reports between market days.

The Business Times reported that the Straits Times Index (STI) started off on a weaker note, dropped by 0.3% or 8.68 points to 3,255.85 by 9:02 am.

In the broader market, 65 stocks went down while only 39 went up after 23 million securities valued at S$42.4 million changed hands.

Thai Beverage held steady at S$0.49, with five million shares changing hands. Meanwhile, ESR-Logos Reit stayed put at S$0.295, with 3.4 million units traded. Seatrium edged up by 1.6% or S$0.03 to S$1.91, after 1.6 million shares changed hands.

Banking stocks were a mixed bag in Thursday morning’s trading. DBS slipped by 1.6% or S$0.58 to S$35.13. On the flip side, UOB gained 0.5% or S$0.14, reaching S$30.02. OCBC also saw a modest uptick, rising by 0.4% or S$0.06 to S$13.81.

US stock indices ended Wednesday with a mix of ups and downs as investors tried to make sense of varied earnings reports. The Dow Jones Industrial Average managed to eke out a 0.4% gain at 39,056.39. The broader S&P 500, however, remained flat at 5,187.67, while the tech-heavy Nasdaq Composite Index dipped by 0.2% to 16,302.76.

Meanwhile, in Europe, stocks were on a high note, closing at a record high thanks to some robust results. The pan-European Stoxx 600 wrapped up the day with a 0.3% gain, hitting a record high and building on Tuesday’s impressive 1% surge. /TISG

Read also: Singapore stocks started lower on Wednesday—STI dropped by 0.4%