Singapore shares fell on Wednesday—STI dipped by 0.4%

SINGAPORE: Singapore shares fell on Wednesday morning due to declines among index counters after a global rally overnight.

The Business Times reported that the Straits Times Index (STI) dipped by 11.78 points, or 0.4%, landing at 3,301.57 by 9:01 am.

There were slightly more gainers than losers in the broader market, with 62 stocks rising and 60 falling. A total of 68.2 million securities valued at S$90.5 million were traded.

Mapletree Pan Asia Commercial Trust was the most actively traded stock by volume, dropping S$0.05, or 4%, to S$1.19, with 11 million units traded.

Mapletree Logistics Trust also saw heavy trading and fell S$0.07, or 5.2%, to S$1.29. Seatrium dropped S$0.09, or 5%, to S$1.71.

Banking stocks showed mixed results in early trading. DBS fell S$0.15, or 0.4%, to S$35.31, and UOB slipped S$0.06, or 0.2%, to S$29.83. In contrast, OCBC gained S$0.03, or 0.2%, reaching S$14.43.

US stocks rallied on Tuesday despite higher-than-expected April wholesale inflation. The tech-focused Nasdaq increased by 0.8% to a new record high of 16,511.18.

The Dow Jones Industrial Average went up 0.3% to close at 39,558.11, and the broad-based S&P 500 rose 0.5%, ending at 5,246.68.

European shares also closed at a new high on Tuesday. Notably, Germany’s Delivery Hero saw a significant rise after selling its Taiwan foodpanda business.

The pan-European Stoxx 600 inched up by 0.2% to 521.65, led by gains in the automobile sector. /TISG

Read also: Singapore stocks opened steady on Tuesday—STI up by 0.01%