Singapore shares open lower on Thursday—STI dropped by 0.1%

SINGAPORE: Singapore shares open lower on Thursday, June 27, following a night of mixed results in global equities.

The Straits Times Index (STI) dropped 3.75 points, or 0.1%, to 3,327.95 by 9:01 am, as reported by The Business Times.

In the broader market, there were 64 losers compared to 31 gainers, with 42.9 million securities worth S$68 million traded.

Thai Beverage was the most actively traded stock in the morning session, dropping S$0.005, or 1.1%, to S$0.46, with 12 million shares changing hands. Other index stocks also saw significant trading activity. Singtel gained S$0.03, or 1.1%, to S$2.73, while Seatrium increased by S$0.01, or 0.7%, to S$1.48.

Banking stocks had a rough start to the trading week. UOB dipped 0.4%, or S$0.11, to S$30.92. OCBC dropped 0.8%, or S$0.11, to S$14.29, and DBS edged down 0.3%, or S$0.10, to S$35.59.

US equities ended Wednesday on a positive note, boosted by a strong performance from shipping giant FedEx. The Dow Jones Industrial Average closed slightly up, less than 0.1%, at 39,127.8. The S&P 500 saw a modest increase of 0.2% to 5,477.9, while the Nasdaq Composite Index rose 0.5% to 17,805.16.

In Europe, stocks declined by the end of Wednesday’s trading session, mainly because of increasing government bond yields across the eurozone. This was spurred by worries about ongoing global price pressures ahead of a crucial US inflation report. The pan-European Stoxx 600 index fell nearly 0.6% to 514.81, reversing early gains. /TISG

Read also: Singapore shares began muted on Wednesday—STI slightly down by 0.04%

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