Singapore stocks retreated at Thursday’s open—STI declined 0.4%

SINGAPORE: Singapore stocks retreated as trading commenced on Thursday (Feb 20), following losses in European markets overnight. The Straits Times Index (STI) declined 0.4%, falling 14.07 points to 3,919.97 at 9:01 am, The Business Times reported.

In the broader market, 60 stocks declined while 46 gained, with 41.2 million securities valued at S$74.4 million traded.

Cosco Shipping International (Singapore) led in trading volume, jumping 6.6% or S$0.009 to S$0.146, with 5.5 million shares traded. Other actively traded stocks included Genting Singapore, which fell 0.7% or S$0.005 to S$0.77, and Singtel, which dropped 0.3% or S$0.01 to S$3.36.

Local banks traded lower. DBS declined 0.3% or S$0.13 to S$45.91. OCBC fell 0.9% or S$0.16 to S$17.69, and UOB dropped 0.4% or S$0.14 to S$38.44.

In the US, stocks ended higher despite trade and inflation concerns. The S&P 500 gained 0.2% to 6,144.15, hitting a new record for the second straight session. The Dow Jones Industrial Average also rose 0.2% to 44,627.59, while the Nasdaq Composite inched up 0.1% to 20,056.25.

European markets declined as investors reacted to new US tariff threats. The pan-European Stoxx 600 saw its biggest one-day decline, retreating 0.9% to 552.1. /TISG

Read also: Singapore stocks rose as trading began on Wednesday—STI gained 0.5%

Featured image by Depositphotos