Singapore shares open lower on Friday—STI dropped 0.2%

SINGAPORE: Singapore shares open lower on Friday, July 5, even as European markets posted gains overnight.

The Business Times reported that the Straits Times Index (STI) was down by 0.2%, dropping 6.74 points to 3,433.14 at 9:01 am.

In the broader market, there were more losers than gainers, with 52 stocks falling and 48 rising after 51.6 million securities valued at S$54.1 million were traded.

Singtel was one of the most actively traded stocks by volume. It saw a decrease of 0.7% or S$0.02, bringing its price down to S$2.87, with 3.5 million shares traded. Genting Singapore also experienced a decline, dropping 0.6% or S$0.005 to S$0.845. Yoma Strategic shares fell 2.6% or S$0.004 to S$0.153.

The banking sector was also affected by the downward trend. DBS shares fell by 0.2% or S$0.07 to S$37.91. UOB saw a decline of 0.3% or S$0.09, bringing its price to S$32.48. OCBC dipped 0.3% or S$0.05, ending at S$15.10.

In the United States, Wall Street had a mixed performance on Thursday. The broad-based S&P 500 rose by 0.5% to 5,537.02. The tech-heavy Nasdaq Composite Index performed better, jumping 0.9% to 18,188.3. In contrast, the Dow Jones Industrial Average dipped slightly, losing 0.1% to 39,308.

European markets were more optimistic, boosted by expectations of interest rate cuts in the US following soft economic data. The pan-European Stoxx 600 index climbed 0.6% to 517.54. /TISG

Read also: Singapore stocks edge higher on Thursday—STI rose by 0.5%

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