Singapore shares open lower on Tuesday—STI fell by 0.1%

SINGAPORE: Singapore shares opened lower on Tuesday, June 4, influenced by the mixed performances of US stocks as investors grappled with economic uncertainties.

The Business Times reported that the Straits Times Index (STI) fell by 0.1%, or 4.34 points, to 3,344.53 by 9:01 am.

In the broader market, the number of losers slightly outpaced gainers, with 42 stocks declining against 40 advancing. A total of 27.5 million securities worth S$44.9 million changed hands in the early trading hours.

Mapletree Pan Asia Commercial Trust was the most actively traded stock by volume, with 4.5 million units changing hands. However, the trust’s share price dipped by 0.8%, or S$0.01, to S$1.24.

NetLink NBN Trust also saw significant activity, with its shares slipping by 0.6%, or S$0.005, to S$0.83. In contrast, Aspen shares rose by 1.9%, or S$0.001, to S$0.053.

Local banking stocks displayed a mixed performance. DBS Group Holdings managed a slight gain, edging up by 0.1% or S$0.02 to S$36.09. OCBC, however, saw a decline of 1% or S$0.14, bringing its share price down to S$14.41.

United Overseas Bank (UOB) also dropped by 0.1%, or S$0.04, to S$30.84.

Wall Street closed with a mixed performance on Monday. The S&P 500 inched up by 0.1% to 5,283.4. However, the Dow Jones Industrial Average fell by 0.3% to 38,571.03. Meanwhile, the Nasdaq Composite Index rose by 0.6% to 16,828.67.

In Europe, markets showed more consistent gains. European stocks rose for the third consecutive session on Monday, driven by bond-proxy sectors.

Investors were optimistic about a likely interest rate cut from the European Central Bank later this week. The pan-European Stoxx 600 closed 0.3% higher at 519.85, starting June on a positive note. /TISG

Read also: Singapore shares opened on a positive note on Monday—STI climbed by 0.3%

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