Singapore stocks started on a lower note on Monday—STI slipped 0.1%

SINGAPORE: Singapore stocks started on a lower note on Monday despite some modest gains on Wall Street.

The Business Times reported that the Straits Times Index (STI) took a slight dip of 0.1%, or 3.05 points, to 3,287.65 as of 9:02 a.m.

There were more losers than gainers in the broader market, with a count of 66 to 57. Trading saw a turnover of 53.9 million securities, valued at S$54.8 million.

Today’s most active stock was Marco Polo Marine, which saw a 1.4% rise, or S$0.001, reaching S$0.071. The company had a strong start to the day, boasting a 159.4% increase in its first half-year net profit.

Genting Singapore, buoyed by its impressive earnings report on Friday, climbed 4.5% or S$0.04 to S$0.925, with 12 million shares swapped.

Thai Beverage also saw brisk trading, losing 2% or S$0.01, trading at S$0.48 after 5.5 million shares changed hands.

Meanwhile, banking stocks seemed to be taking it easy, with OCBC holding steady at S$14.12, DBS slipping 0.2% or S$0.08 to S$35.32, and UOB trading flat at S$30.34.

In the US, stocks wrapped up the week with modest gains, with investors eagerly anticipating crucial inflation data scheduled for release later in the week.

The broad-based S&P 500 ticked up 8.6 points or 0.2%, closing at 5,222.68. However, the tech-heavy Nasdaq Composite had a slight dip of 5.4 points or 0.03%, settling at 16,340.87.

The Dow Jones Industrial Average, on the other hand, rose more than 125.08 points, or 0.3%, ending the day at 39,512.84.

Meanwhile, there was a buzz of excitement in Europe as the main stock index hit a record high. The pan-European Stoxx 600 wrapped up the day with a notable 0.8% increase, closing at 520.76.

Major economies like Germany and France saw their indices reaching record highs, adding to the positive sentiment in the European markets. /TISG

Read also: Singapore shares rose on Friday—STI up by 0.4%

Featured image by Depositphotos