Singapore stocks took a dip on Tuesday—STI slipped by 0.3%

SINGAPORE: Singapore stocks fell on Tuesday, following a global trend of losses sparked by concerns about geopolitical tensions in the Middle East.

The Business Times reports that the Straits Times Index (STI) slipped 0.3% to 3,175.63 as of 9:01 am, with more stocks on the losing side than gaining.

63 were on the red compared to 35 on the green, as 39.3 million securities, valued at S$57.1 million, changed hands.

Genting Singapore stole the spotlight as the most traded stock by volume, edging up 0.6% to S$0.91 with 5.2 million securities traded.

Yangzijiang Shipbuilding also saw brisk trading, climbing 0.6% to S$1.79 after 3.2 million shares swapped hands. Meanwhile, Seatrium rose 1.3% to S$0.079 with the exchange of 3.2 million shares.

Banking stocks showed a mixed performance in early trading. DBS rose 0.2% to S$35.71, OCBC dipped 0.8% to S$13.60, and UOB shed 0.5% to S$29.43.

Meanwhile, Wall Street faced a downward trend despite positive US economic data. Worries over the Middle East conflict tempered investor sentiment.

The Nasdaq Composite Index fell 1.8% to 15,885.02, the S&P 500 dropped 1.2% to 5,061.82, and the Dow Jones Industrial Average declined 0.7% to 37,735.11.

In Europe, Monday’s trading saw minimal movement as gains in industrial sectors were countered by a slump in energy shares due to weak oil prices. The pan-European Stoxx 600 edged up 0.1% to close at 505.93. /TISG

Read also: Singapore shares took a hit on Monday over Middle East tensions—STI down by 0.9%

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