Singapore stocks saw little movement as trading began on Friday—STI slipped 0.02%

SINGAPORE: Singapore stocks saw little movement as trading began on Friday (Feb 21), following a decline in global markets overnight. The Straits Times Index (STI) slipped 0.02% or 0.68 points to 3,926.83 at 9:03 am, The Business Times reported.

In the broader market, 66 stocks fell while 62 rose, with 64.7 million securities valued at S$118.4 million traded.

CSC Group, a company specialising in foundation and geotechnical engineering, led in volume with 6.4 million shares traded. It traded flat at S$0.01. Offshore and marine specialist Seatrium declined 2% or S$0.05 to S$2.45. Meanwhile, oil exploration and production firm Rex International retreated 11.2% or S$0.024 to S$0.191.

Local banking stocks traded well at the open. DBS rose 0.3% or S$0.12 to S$46.20. OCBC gained 0.2% or S$0.04 to S$17.76, while UOB also climbed 0.2% or S$0.06 to S$38.49.

In the US, stocks closed lower on Thursday as Walmart’s earnings fell short of expectations, and banking shares declined due to profit-taking, according to analysts. The Dow Jones Industrial Average retreated 1% to 44,176.65. The S&P 500 fell 0.4% to 6,117.52, while the Nasdaq Composite Index declined 0.5% to 19,962.36.

European stocks also closed lower on Thursday amid corporate updates and anticipation of Germany’s upcoming elections. The pan-European Stoxx 600 Index fell 0.2% to 551.01. /TISG

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

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