Singapore shares’ Thursday morning dip: STI slipped 0.1%

SINGAPORE: Singapore shares took a dip Thursday morning Feb 8 despite Wall Street’s overnight rally. The Straits Times Index (STI) slipped 0.1% or 2.13 points to 3,154.02 as of 9:01 am, The Business Times reports.

Over on the wider market, 63 stocks were on the up while 48 took a slide, with about 94.8 million shares worth S$67.2 million changing hands.

Seatrium was the hot cake of the day, seeing a 1.1% hike to S$0.093 after trading a whopping 42.7 million shares.

Geo Energy Resources also had a decent run, jumping 7.6% to S$0.425, with 11.8 million shares traded.

On the flip side, MarcoPolo Marine didn’t have Lady Luck on its side, slipping 1.8% to S$0.055 and moving 6.9 million shares.

Banking stocks seemed a bit undecided in the early morning hustle.

DBS managed a 0.3% climb to S$32.56 following its latest financial release, while OCBC saw a 0.4% dip to S$12.90. UOB followed suit with a 0.4% slide to S$28.17.

Stateside, things were looking up as strong earnings reports brought cheer to investors.

The Dow Jones Industrial Average wrapped up 0.4% higher at 38,677.36. The S&P 500 ended the day almost at the 5,000 mark, gaining 0.8% to close at 4,995.06.

The Nasdaq Composite Index led the pack, up by 1% to 15,756.64.

Meanwhile, European shares had a bit of a gloomy day, thanks to wobbles in the banking and energy sectors.

The pan-European Stoxx 600 index wrapped up 0.3% lower at 485.63.

Spain’s shares took the biggest hit, lagging behind their regional counterparts with a 1.2% dip. /TISG

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