SINGAPORE: Singapore stocks opened lower on Friday (Nov 15), tracking losses in global markets overnight.
The Straits Times Index (STI) dropped 0.3%, or 11.83 points, at 3,726.33 at 9:01 am, as reported by The Business Times.
In the broader market, 66 stocks fell and 37 stocks gained, with 42.3 million securities worth S$65.8 million traded.
Marine and offshore company Seatrium led the trading volume. Its shares slipped 0.5%, or S$0.01, to S$1.88, with 2.5 million shares exchanged. Other actively traded stocks included casino operator Genting Singapore, which gained 1.3%, or S$0.01, to reach S$0.775, and real estate investment trust CapitaLand Integrated Commercial Trust, which held steady at S$1.97.
Banking stocks saw declines as trading began. UOB dropped 0.8%, or S$0.28, to S$35.72. DBS fell 0.7%, or S$0.32, to S$42.70. OCBC slipped 0.6%, or S$0.10, to S$16.37.
Major Wall Street indices closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened hopes for an interest rate cut this year, stating the US central bank saw no need to rush to ease monetary policy.
The S&P 500 dropped 0.6% to 5,949.17, while the tech-heavy Nasdaq Composite Index fell 0.6% to 19,107.65. The Dow Jones Industrial Average also fell 0.5% to 43,750.86.
In Europe, solid performances in the tech and energy sectors, along with positive earnings results, lifted the pan-European Stoxx 600 Index by 1.1% to 507.03. However, it remained close to a three-month low after declines in the previous two sessions. /TISG
Read also: Singapore stocks retreated as trading began on Thursday—STI dropped by 0.3%
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