Singapore shares fall on Monday—STI dipped by 0.3%

SINGAPORE: Singapore shares fall on Monday morning despite a positive performance on global markets. The Business Times reports that, as of 9:01 am, the Straits Times Index (STI) had dipped 8.4 points or 0.3% to 3,271.7.

The broader market has gainers outnumbering losers at 57 to 45, with 179.8 million securities, valued at S$63 million, exchanging hands.

Seatrium took the limelight as the most actively traded counter by volume, witnessing a 2.3% uptick, closing at S$0.091 after a transaction of 153.4 million securities.

Singtel was another heavily exchanged counter. Unfortunately, it wasn’t a bright morning for them, as they experienced a 2.9% drop, ending at S$2.34, with 8.4 million shares traded.

Meanwhile, Thai Beverage maintained its ground, holding steady at S$0.475 after exchanging 2.4 million securities. Banking stocks showed mixed performance during the initial trading session. DBS rose 0.6%, adding S$0.20 to reach S$34.62.

On the other hand, OCBC slipped 0.5%, losing S$0.07 and settling at S$14.20. UOB showed a modest climb of 0.2%, gaining S$0.05 and closing at S$30.46.

In the United States, the stock market wrapped up the previous week on a high note, riding on strong performances from tech giants, which provided a much-needed boost after a turbulent week.

The Nasdaq Composite Index surged by 2%, hitting 15,927.9, while the S&P 500 registered a 1% increase, reaching 5,099.96. The Dow Jones Industrial Average followed suit, increasing by 0.4% to 38,239.66.

Meanwhile, Europe witnessed a different momentum, with banking and industrial stocks taking the lead. On Friday, the pan-European Stoxx 600 marked its biggest one-day gain in over three months, climbing by 1.1% and closing at 507.98. /TISG

Read also: Singapore shares slipped on Friday—STI down by 0.1%

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