Singapore shares took a dip on Wednesday—STI declined 0.6%

SINGAPORE: Singapore shares took a dip on Wednesday morning, following a trend of global market losses from the previous night, The Business Times reports.

The Straits Times Index (STI) witnessed a decline of 0.6% or 18.22 points, settling at 3,225.84 by 9.01 am. In the broader market, losers outnumbered gainers, with 61 stocks on the downside against 37 on the upside, as 40 million securities valued at S$61 million changed hands.

Seatrium saw the most action, with its shares rising by 4.12% to S$0.098, after around eight million securities exchanged hands. Meanwhile, Dyna-Mac witnessed a gain of 3.8%, closing at S$0.275, and SIA experienced a notable drop of 7.6%, settling at S$6.81.

Banking stocks had a mixed performance in the early morning trade. DBS slid by 0.3% to S$34.08, OCBC witnessed a decline of 0.8%, closing at S$13.34, while UOB managed a slight increase of 0.2%, reaching S$29.56.

On Wall Street, stocks took a hit on Tuesday, partly due to the decline in Nvidia shares ahead of its upcoming earnings report. The Dow Jones Industrial Average ended the day down by 0.2% at 38,563.80 points.

Similarly, the S&P 500 dropped by 0.6% to 4,975.51 points, and the Nasdaq Composite Index fell by 0.9%, closing at 15,630.78 points.

In Europe, the Stoxx 600 broke its four-day winning streak on Tuesday, dragged down by basic resources and energy stocks. The index closed 0.1% lower at 491.90 points after reaching a two-year high on Monday. /TISG

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

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