SINGAPORE: Singapore shares started the week on a subdued note on Monday, reflecting a mixed performance from US equities and a decline in European markets.
The Business Times reported that on Monday, May 20, the Straits Times Index (STI) dipped slightly, losing 1.27 points or 0.04% to stand at 3,312.21 as of 9:01 a.m.
The broader market saw more gainers than losers, with 85 stocks rising and 47 falling. In early trading, 53.9 million shares valued at S$54.2 million were traded.
Genting Singapore was the top-traded counter by volume. The stock gained S$0.015, or 1.7%, to reach S$0.915, with 15.1 million securities changing hands.
On the other hand, Chasen Holdings, a company specialising in relocation solutions, saw its shares drop by S$0.003 or 2.9%, ending at S$0.10 amid heavy trading volumes.
Medtecs International, a manufacturer of protective gear, also witnessed brisk trading. Its shares rose by S$0.009 or 6.1% to S$0.156, reflecting strong investor interest.
In the banking sector, DBS was the only gainer among the trio of local banks. Its shares climbed by S$0.04, or 0.1%, to S$35.74 at the open.
In contrast, OCBC fell by S$0.06, or 0.4%, to S$14.38, and UOB declined by S$0.05, or 0.2%, to S$30.22.
In the United States, Wall Street concluded the trading week with mixed results. The Dow Jones Industrial Average rose by 0.3%, reaching a historic high of 40,003.59, passing the 40,000 mark for the first time.
The broad-based S&P 500 edged up by 0.1% to close at 5,303.27. However, the tech-heavy Nasdaq Composite Index experienced a slight dip, falling by 0.1% to end at 16,685.97.
European markets did not fare as well, ending Friday on a downbeat note. The rate-sensitive real estate sector declined significantly due to higher eurozone bond yields.
The pan-European Stoxx 600 index slipped by 0.1%, closing at 522.94. /TISG
Read also: Singapore shares opens on a positive note on Friday—STI increased by 0.2%
Featured image by Depositphotos
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