SINGAPORE: Singapore stocks opened lower on Thursday (Dec 26), pulling back from earlier gains on Tuesday before the Christmas holiday. The Straits Times Index (STI) slipped 0.1%, or 3.1 points, to 3,766.45 at 9:01 am, as reported by The Business Times.
In the broader market, 59 stocks rose while 41 fell, with 44.7 million securities valued at S$16.3 million traded.
Oceanus led in trading volume. Its shares advanced 16.7%, or S$0.001, to S$0.007 with 10.3 million securities exchanged. Koh Brothers Eco Engineering and Zixin Group also saw high activity. Both stocks gained S$0.001, with Koh Brothers Eco up 2.3% to S$0.045 and Zixin Group increasing by 3.5% to S$0.03.
On Wednesday (Dec 25), Koh Brothers Eco Engineering announced it had secured a S$313.9 million contract from the Land Transport Authority (LTA).
Local banks also traded lower on Thursday’s open. DBS fell 0.4%, or S$0.16, to S$43.44. UOB dropped 0.4%, or S$0.16, to S$36.08, while OCBC declined by 0.2%, or S$0.03, to S$16.56.
US stocks rose on Tuesday during a shortened trading session before Christmas. The S&P 500 rose 1.1% to 6,040.04, while the Nasdaq Composite Index advanced 1.4% to 20,031.13. The Dow Jones Industrial Average gained 0.9% to 43,297.03.
In Europe, markets also ended higher after a shorter trading day. /TISG
Read also: Singapore stocks traded higher on Tuesday morning—STI gained 0.2%
Featured image by Depositphotos