Singapore stocks traded lower before the new year—STI fell 0.4%

SINGAPORE: Singapore stocks traded lower before the new year on Dec 31, reflecting losses in global markets overnight.

The Straits Times Index (STI) fell 0.4%, or 13.49 points, to 3,782.24 at 9:01 am, as reported by The Business Times. In the broader market, 69 stocks fell while 15 gained, with 33.6 million securities valued at S$28.3 million traded.

Entertainment group mm2 Asia led in trading volume. It retreated 7.1%, or S$0.001, to S$0.013 after 2.7 million shares were traded. SingPost shares gained 2.9%, or S$0.015, to S$0.535, while CapitaLand Integrated Commercial Trust units slipped 0.5%, or S$0.01, to S$1.94.

Banking stocks opened lower. DBS dropped 0.4%, or S$0.18, to S$43.67, UOB declined 0.4%, or S$0.16, to S$36.20, and OCBC fell 0.6%, or S$0.10, to S$16.60.

Overnight, Wall Street saw losses as analysts expected, noting that trading volumes are usually low before New Year’s Day.

The Dow Jones Industrial Average fell 1% to 42,573.73. The S&P 500 dropped 1.1% to 5,906.94, while the Nasdaq Composite Index declined 1.2% to 19,486.78.

In Europe, shares also fell as high government bond yields prompted investors to sell equities. The pan-European Stoxx 600 fell 0.5% to 504.85 points, with technology and healthcare stocks leading the declines. /TISG

Read also: Singapore stocks saw little change on Monday morning—STI edged up 0.03%

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