Singapore shares saw little movement on Tuesday—STI dipped by 0.02%

SINGAPORE: Singapore shares saw little movement on Tuesday, May 21, following a mixed performance on Wall Street and minor gains in European markets overnight.

The Business Times reported that the Straits Times Index (STI) dipped by 0.02%, or 0.71 points, to settle at 3,313.34 at 9:01 am. The trading landscape was varied, particularly among banking stocks, leading to this slight decline.

Genting Singapore was one of the most actively traded stocks by volume. It experienced a modest rise of 0.6%, or S$0.005, to S$0.915, with 1.7 million shares changing hands.

Singtel, another heavily traded stock, dropped by 0.4%, or S$0.01, to S$2.40, also with 1.7 million shares traded. Meanwhile, Mapletree Logistics Trust fell by 1.5%, or S$0.02, to S$1.35, with a trading volume of 787,700 shares.

Banking stocks showed mixed results in early trading. DBS remained flat at S$35.80, while UOB saw a slight increase of 0.2%, or S$0.06, to S$30.30. OCBC, however, experienced a small decline of 0.1%, or S$0.02, bringing its share price to S$14.39.

Other notable index counters included Singapore Airlines, which decreased by 0.3%, or S$0.02, to S$6.75. In contrast, CapitaLand Integrated Commercial Trust gained 1%, or S$0.02, reaching S$1.99.

The US markets presented a mixed picture. The Nasdaq Composite Index rose by 0.7%, closing at 16,794.88, bolstered by gains in several technology stocks.

However, the Dow Jones Industrial Average declined by 0.5% to 39,806.77. The broad-based S&P 500 saw a slight increase of 0.1%, closing at 5,308.13.

European shares saw a modest increase on Monday, buoyed by gains in defence stocks. The pan-European Stoxx 600 index inched up by 0.2%. /TISG

Read also: Singapore shares started the week on subdued note on Monday—STI dipped slightly by 0.04%

Featured image by Depositphotos