Singapore shares took a dip on Tuesday morning—STI slightly declined 0.1%

SINGAPORE: Singapore shares took a dip on Tuesday morning, brushing off gains seen in European markets the previous night, The Business Times reports.

At 9:01 a.m., the Straits Times Index (STI) experienced a slight decline of 0.1% or 2.32 points, settling at 3,223.59. In the broader market landscape, there were 50 losers compared to 48 gainers, with a trading volume of 27 million securities worth S$35.4 million changing hands.

Seatrium took the spotlight as the most actively traded counter by volume. Despite its popularity, it held steady at S$0.09 following the transaction of 8.9 million securities.

Another notable performer was Marco Polo Marine, trading flat at S$0.055, with 2.8 million securities exchanged. However, Singtel experienced a slight setback, dropping by 0.4% or S$0.01 to S$2.36 after 2.6 million shares were traded.

Banking stocks showed a mixed bag in early trading. DBS experienced a marginal decline of 0.2% or S$0.05, reaching S$34.08. On the flip side, OCBC saw a modest gain of 0.1% or S$0.01, reaching S$13.34, while UOB slipped by 0.1% or S$0.03, settling at S$29.39.

The US stock and bond markets remained closed on Monday due to a public holiday.

Meanwhile, in Europe, the pan-European Stoxx 600 soared its highest point in over two years on Monday, buoyed by a robust performance from healthcare stocks.

However, French and German shares faced a slight downturn due to lingering economic concerns. The Stoxx 600 wrapped up the day with a 0.2% climb, closing at 492.39. /TISG

Read also: Singapore shares open flat on Monday after Budget 2024 announcement

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