SINGAPORE: Singapore stocks dipped as trading began on Thursday (Feb 13) after overnight mixed performance in the US and European markets. The Straits Times Index (STI) edged down 0.1% or 4.98 points to 3,869.64 at 9:01 am, as reported by The Business Times.
In the broader market, 53 stocks rose while 53 fell, with 52.1 million securities valued at S$57.8 million traded.
Seatrium led in trading volume, gaining 1.3% or S$0.03 to S$2.33 with 4.2 million shares traded. Tritech Group jumped 25% or S$0.002 to S$0.01, while shares of Memiontec, a water treatment company, retreated 21.6% or S$0.011 to S$0.04.
Local banks rose at the open. DBS increased 0.02% or S$0.01 to S$44.97, OCBC gained 0.1% or S$0.01 to S$17.31, and UOB rose 0.2% or S$0.06 to S$37.56.
In the US, Wall Street mostly closed lower after new inflation data reduced hopes of further interest rate cuts. The Dow Jones Industrial Average fell 0.5% to 44,368.56, while the S&P 500 dropped 0.3% to 6,051.97. The Nasdaq Composite Index bucked the trend and increased 0.03% to 19,649.95.
Meanwhile, European stocks hit a record high despite concerns over US inflation data and trade policies. The pan-European Stoxx 600 Index increased 0.1% to 547.78, helped by strong earnings from Heineken and ABN Amro. /TISG
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