Singapore shares took a dip on Monday—STI dropped 0.1%

SINGAPORE: Singapore shares took a dip on Monday morning, feeling the aftershocks of a mixed global equities market performance from the previous week, The Business Times reports.

As the clock ticked to 9:01 am, the Straits Times Index (STI) saw a decline of 2.48 points, marking a 0.1% drop, settling at 3,144.61. Amongst the broader market scene, the losers took the lead, outnumbering the gainers 54 to 36. A total of 23.4 million securities, valued at S$33.1 million, changed hands.

Geo Energy Resources took the spotlight as the most actively traded counter in terms of volume. The company’s stocks surged by 4.1%, or S$0.015, reaching S$0.38 after 3.5 million securities were traded.

Yangzijiang Shipbuilding wasn’t far behind, making waves with a gain of 0.5%, or S$0.01, to settle at S$1.85. However, Mapletree Logistics Trust didn’t fare as well, witnessing a decline of 2%, or S$0.03, trading at S$1.45.

Meanwhile, the trio of local banks saw a positive start to the day. DBS led the charge with a rise of 0.4%, or S$0.14, hitting S$33.89. UOB managed to stay nearly flat, gaining just S$0.01 to hover at S$28.31. OCBC joined the upward trend, climbing by 0.5%, or S$0.07, to settle at S$13.25.

Wall Street indices wrapped up Friday on a sour note, following a disheartening labor market report showing an unexpected increase in unemployment rates.

The Dow Jones Industrial Average ended the day 0.2% lower, closing at 38,722.69, while the S&P 500 saw a 0.7% dip, settling at 5,123.69. The tech-heavy Nasdaq fared as well, shedding 1.2% to reach 16,085.11.

In Europe, shares managed to maintain their position, ending Friday on a flat note despite strong gains throughout the week. The pan-European Stoxx 600, although closing relatively flat at 503.26, reached an all-time high, marking the index’s seventh consecutive weekly advance. /TISG

Read also: Singapore shares started strong this Friday—STI increased by 0.5%

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