Singapore stocks traded lower on Monday’s open—STI dropped 0.3%

SINGAPORE: Singapore stocks traded lower on Monday, Jan 27, tracking global declines. The Straits Times Index (STI) dropped 0.3% or 11.72 points to 3,792.54 at 9:01 am, The Business Times reported.

In the broader market, 61 stocks declined while 52 gained, with 45.9 million securities valued at S$86.6 million traded.

Suntec Real Estate Investment Trust led in trading volume. It dropped 1.7% or S$0.02 to S$1.19, with 12.9 million units exchanged. Genting Singapore shares fell 0.7% or S$0.005 to S$0.74, while Thomson Medical Group shares retreated 6.1% or S$0.003 to S$0.046.

Banking stocks were also down at the open. DBS slipped 0.3% or S$0.11 to S$43.40. UOB dropped 0.8% or S$0.31 to S$36.94, while OCBC dipped 0.2% or S$0.03 at S$17.04.

Wall Street saw all three major indices close lower on Friday due to profit-taking after mixed earnings reports. The S&P 500 fell 0.3% to 6,101.24, after hitting a record on Thursday. The Dow Jones Industrial Average dropped 0.3% to 44,424.25, while the Nasdaq Composite Index slid 0.5% to 19,954.3.

In Europe, shares also ended lower on Friday after the telecom and energy sectors declined, along with rising bond yields. The pan-European Stoxx 600 index slipped 0.1% to 530.07 points. /TISG

Read also: Singapore stocks opened higher on Friday—STI rose 0.2%

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