Singapore stocks fell on Monday’s open—STI dropped 0.3%

SINGAPORE: Singapore stocks fell on Monday’s open, Aug 12, despite the recent recovery seen in Wall Street. The Straits Times Index (STI) opened 0.3% lower, dropping 9.78 points to stand at 3,252.05 by 9:02 am, as reported by The Business Times.

In the broader market, there were 86 gainers compared to 46 losers, with 46.2 million securities worth S$89.9 million traded.

Among the most traded stocks was Thai Beverage Public Company Limited (ThaiBev), which remained steady at S$0.50 with 11.3 million shares exchanged.

Singtel’s shares dipped 1.4%, or S$0.04, to S$2.88. Meanwhile, Dyna-Mac Holdings Ltd, an offshore oil and gas contractor, saw its share price rise by 2.5%, or S$0.015, to S$0.61.

Banking stocks showed mixed results. DBS Group Holdings Ltd posted a 2.8% gain, adding S$0.94 to reach S$34.51. In contrast, United Overseas Bank Limited (UOB) and Oversea-Chinese Banking Corporation (OCBC) both experienced declines.

UOB’s shares fell by 2.1%, or S$0.62, to S$29.38, while OCBC dropped 1.6%, or S$0.22, to S$14.01. On Friday, Wall Street managed to recoup almost all of its losses from the decline on Aug 5.

The Dow Jones Industrial Average closed higher by 51.05 points, or 0.1%, ending at 39,497.54. Meanwhile, the S&P 500 rose by 24.85 points, or 0.5%, to 5,344.16. The Nasdaq Composite Index also rose by 85.28 points, or 0.5%, to close at 16,745.3.

In Europe, stocks continued their upward trend, logging gains for the fourth consecutive session. The Stoxx 600 index rose by 0.6%, closing at 499.19, buoyed by strong performances in the healthcare sector. /TISG

Read also: Singapore stocks dipped on Thursday—STI fell by 0.2%

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