SINGAPORE: Singapore stocks traded lower on Wednesday morning, Dec 18, reflecting declines seen in global markets overnight. The Straits Times Index (STI) fell 0.2%, or 6.16 points to 3,793.77 at 9:01 am, as reported by The Business Times.
In the broader market, 47 stocks gained while 45 declined, with 18.9 million securities valued at S$32.1 million being traded.
Thai Beverage led in trading volume, slipping 0.9%, or S$0.005, to S$0.555, with 1.2 million shares exchanged. Property developer Wee Hur advanced 1.2%, or S$0.005, to S$0.43. Singtel also rose 0.3%, or S$0.01, to S$3.14.
Banking stocks also traded lower at the open. DBS dropped 0.4%, or S$0.16, to S$44.05. UOB fell 0.6%, or S$0.23, to S$36.47, while OCBC retreated 0.6%, or S$0.10, to S$16.85.
On Wall Street, stocks fell on Tuesday as investors waited for the Federal Reserve’s interest rate decision. The Fed is expected to lower rates again on Wednesday.
The Dow Jones Industrial Average fell 0.6% to 43,449.9, while the S&P 500 dropped 0.4% to 6,050.61. The Nasdaq Composite Index retreated 0.3%, closing at 20,109.06.
European stocks dropped to a two-week low as energy and bank shares declined, with investors awaiting key central bank decisions later in the week. The pan-European Stoxx 600 index fell 0.4% to 513.66, its lowest close since Dec 2. /TISG
Read also: Singapore stocks traded lower on Tuesday’s open—STI dropped 0.3%
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