Singapore stocks opened muted on Monday—STI dipped slightly by 0.02%

SINGAPORE: Singapore stocks opened muted on Monday after a turbulent week in the US and European markets. A global IT outage disrupted businesses worldwide, influencing stock exchanges.

The Straits Times Index (STI) dipped slightly by 0.02% or 0.77 points, landing at 3,446.79 as of 9:04 am, The Business Times reports.

Market sentiment was mixed, with 64 gainers and 62 losers, as 75.8 million securities worth S$62.3 million were traded.

Among the most active stocks by volume was Oceanus, which remained flat at S$0.009 with 36.3 million shares traded. Mapletree Logistics Trust slipped 0.8% or S$0.01 to S$1.35 after 3.2 million shares were exchanged.

Genting Singapore held steady at S$0.85, with 2.2 million shares traded.

Singtel saw a 1% increase, adding S$0.03 to trade at S$3.05. On the other hand, ST Engineering dropped 0.9% or S$0.04, trading at S$4.41.

Banking stocks showed mixed performance in early trading. DBS fell by 0.3% or S$0.11 to S$36.58, while UOB rose 0.4% or S$0.12 to S$32.75. OCBC remained unchanged at S$14.97.

On Friday, US stocks fell for the second consecutive session due to the IT outage, which affected airlines, banks, TV stations, and financial institutions.

The Dow Jones Industrial Average dropped 0.9% to 40,287.53. The S&P 500 was down 0.7% to 5,505, and the Nasdaq Composite Index fell 0.8% to 17,726.94.

European shares also ended lower on Friday, driven by a sell-off in technology stocks and a decline in commodity-linked shares. The pan-European Stoxx 600 index fell 0.8%, closing at 510.03, hitting its lowest in over two weeks. /TISG

Read also: Singapore stocks open lower on Friday amid global tech selloff—STI dropped by 0.6%

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