Singapore stocks open lower on Wednesday—STI dipped by 0.4%

SINGAPORE: Singapore stocks opened lower on Wednesday, July 24, mirroring mixed performances in the US and European markets.

The Straits Times Index (STI) dipped by 0.4%, losing 12.57 points to 3,448.59 as of 9:03 am, as reported by The Business Times.

In the broader market, 61 gainers outnumbered 43 losers, as 38.8 million securities worth S$47.6 million were exchanged.

Singtel, among the most active counters, dropped 0.7% or S$0.02 to S$3, with 3.8 million shares traded.

Hutchison Port Holdings Trust rose by 3.1% or US$0.004 to US$0.133, with 3.1 million shares changing hands. Mapletree Logistics Trust held steady at S$1.35 after 2.2 million units changed hands.

The banking sector saw declines in early trading. DBS fell by 0.4% or S$0.15 to S$36.60. UOB decreased by 0.2% or S$0.05 to S$32.81. OCBC also dropped by 0.4% or S$0.06 to S$15.10.

On Wall Street, all three major indices closed lower on Tuesday. The Dow Jones Industrial Average fell by 0.1% to 40,358.09. The S&P 500 was down 0.2% to 5,555.74, while the Nasdaq Composite slipped 0.1% to 17,997.35.

In Europe, stocks ended slightly higher on Tuesday, supported by gains in technology shares. The pan-European Stoxx 600 index rose by 0.1%. /TISG

Read also: Singapore stocks open higher on Tuesday—STI climbed by 0.5%

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