Singapore stocks started the week lower on Monday—STI dropped 0.2%

SINGAPORE: Singapore stocks started the week lower on Monday, Sept 16, despite positive gains in global markets last Friday.

The Straits Times Index (STI) dropped 0.2%, or 6.55 points, to 3,556.1 as of 9:01, as reported by The Business Times. In the broader market, 67 gainers outnumbered 36 losers after a total of 27 million securities valued at S$40.4 million were traded.

Singtel was the most actively traded stock by volume. The telecom company saw 4.2 million shares exchanged, with its stock rising 0.3%, or S$0.01, to S$3.28. 

Meanwhile, Keppel Infrastructure Trust’s shares fell by 2.2%, or S$0.01, to S$0.45. Capitaland Integrated Commercial Trust, however, managed to gain 0.5%, or S$0.01, reaching S$2.14.

The banking sector faced early losses, with all three of Singapore’s major banks experiencing declines. DBS dropped by 0.6%, or S$0.22, bringing its stock price to S$37.72. UOB followed suit, decreasing 0.7%, or S$0.24, to S$32.20.

Meanwhile, OCBC saw a more modest dip, losing 0.2%, or S$0.03, to S$15.25.

Meanwhile, on Wall Street, all major indices rose on Friday as investors anticipated the possibility of a bigger Federal Reserve interest rate cut this week.

The Dow Jones Industrial Average gained 0.7%, closing at 41,393.78, while the S&P 500 rose 0.5% to 5,626.02. The Nasdaq Composite also finished 0.7% higher, closing at 17,683.98.

In Europe, stocks also ended the week on a high, driven by gains in the technology, real estate, and mining sectors. The pan-European Stoxx 600 index gained 0.8%, closing at 515.95. /TISG

Read also: Singapore shares opened on a positive note on Friday—STI rose 0.1%

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