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

SINGAPORE: Singapore stocks fell on Tuesday’s open, Nov 5, following similar declines in overseas markets the night before.

The Straits Times Index (STI) dropped 0.3%, or 10.08 points, to 3,561.96 by 9:02 am, as reported by The Business Times.

In the broader market, 77 stocks declined compared to 50 that gained after a total of 51.9 million securities valued at S$70.6 million were traded.

Oceanus, a mainboard-listed seafood supplier, led the trading volume, falling 14.3% or S$0.001 to S$0.006 with 9.1 million shares exchanged.

Other frequently traded stocks included Thai Beverage, which rose 1%, or S$0.005, to S$0.515, and food and beverage group LifeBrandz, which remained unchanged at S$0.003.

Banking stocks were mostly down as the trading began. DBS dropped 0.6% or S$0.25, trading at S$38.81. OCBC also slipped 0.5% or S$0.07 to S$15.10, while UOB remained steady, trading flat at S$32.03.

On Monday, Wall Street closed lower as investors braced for possible volatility ahead of the upcoming US presidential election.

The Dow Jones Industrial Average fell by 0.6% to 41,794.6, while the broader S&P 500 lost 0.3%, closing at 5,712.69. The tech-heavy Nasdaq Composite Index also retreated by 0.3%, ending at 18,179.98.

In Europe, shares ended lower, primarily driven by declines in tech stocks, which outweighed gains in oil and bank shares.

The pan-European Stoxx 600 Index dropped 0.3%, closing at 509.21, with technology stocks leading the losses, down 1.1%. /TISG

Read also: Singapore stocks started the week on a high note on Monday—STI rose by 0.5%

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