Singapore stocks fell on Monday—STI dropped by 0.2%

SINGAPORE: Singapore stocks fell on Monday’s open, Sept 9, following a global downturn that saw stocks decline last week. The Straits Times Index (STI) dropped 0.2%, or 5.92 points, to 3,448.55 by 9:01 am, according to The Business Times.

In the broader market, 62 losers outnumbered 30 gainers after a total of 32.4 million securities valued at S$21.1 million were traded.

CSC Holdings, a foundation and geotechnical engineering specialist, was the most actively traded stock by volume. Its shares jumped 28.6%, or S$0.002, to S$0.009 after 9.6 million shares were traded.

Other actively traded stocks included Advanced Systems Automation, which increased 30%, or S$0.006, to S$0.026. MM2 Asia, a Singapore-based entertainment group, also saw gains of 12.5%, increasing S$0.002 to S$0.018.

Banking stocks delivered a mixed performance. DBS edged up 0.1%, or S$0.02, to S$36.55. In contrast, OCBC dropped 0.7%, or S$0.10, to S$14.53, while UOB slid 0.1%, or S$0.03, to S$31.43.

US markets finished lower as concerns over weak jobs data pointed to a slowing economy. The Dow Jones Industrial Average closed 1% lower at 40,345.41, while the S&P 500 dropped 1.7% to 5,408.42.

The tech-heavy Nasdaq Composite Index also declined, falling 2.6% to 16,690.83.

European stocks declined for the fifth consecutive session on Friday, after the US jobs report gave unclear hints about the size of a possible Federal Reserve rate cut later this month. The Stoxx 600 index slipped 1%, closing at 506.56. /TISG

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