Singapore stocks opened nearly flat, with STI down by 0.04%

SINGAPORE: Singapore stocks opened nearly flat on Friday, exhibiting a modest decline of 0.04% in the Straits Times Index (STI) at 3,121.85 as of 9:01 a.m., The Edge Singapore reports. The subdued market opening contrasted with the global trend, where markets experienced gains overnight.

In the broader market, gainers outnumbered losers, with 81 securities on the upside and 38 in the red, indicating a ratio of about two securities up for everyone down. The total turnover reached 93.4 million securities, amounting to S$82.7 million.

The most active counter by volume during the morning trade was Seatrium (S51 +1.9%), maintaining stability at S$0.105 with 32.4 million shares traded. Other actively traded securities included Rex International (5WH +0.6%), which saw a 1.2% increase to S$0.17 with 3.8 million shares transacted, and Biolidics (8YY 0%), holding steady at S$0.015 with 3.6 million shares changing hands.

Banking stocks displayed a mixed performance in early trade. DBS (D05 -1.08%) experienced a 0.3% decline, losing S$0.08 to reach S$31.32, while UOB (U11 +0.11%) rose by 0.3%, gaining S$0.07 to reach S$27.86. OCBC (O39 -0.8%) declined by 0.3%, dropping S$0.04 to S$12.43.

Other actively traded index counters included Singtel (Z74 0%), trading 0.4% or S$0.01 higher at S$2.41, and CapitaLand Ascendas Reit (A17U -0.67%), which experienced a 1% decline, dropping S$0.03 to S$2.96.

The contrasting performance in Singapore’s stock market diverged from Wall Street’s positive trajectory on Thursday. Wall Street stocks concluded higher following strong US retail sales data and central bank decisions to maintain steady interest rates. The Dow Jones Industrial Average reached a fresh record, closing 0.4% higher at 37,248.35. The broader S&P 500 advanced 0.3% to 4,719.55, while the Nasdaq Composite Index rose 0.2% to 14,761.56.

In Europe, shares experienced gains as well. The pan-European index increased by 0.9% to 476.57, achieving a 22-month high during the session. /TISG