Singapore stocks traded lower on Tuesday’s open—STI slipped 0.1%

SINGAPORE: Singapore shares traded lower on Tuesday’s open after mixed results from overseas markets. The Straits Times Index (STI) slipped 0.1%, or 3.64 points, to 3,788.06 at 9:01 am, as reported by The Business Times.

In the broader market, 64 stocks advanced while 40 declined, with 40.5 million securities valued at S$80.9 million traded.

Oceanus Group, a seafood supplier, led in trading volume with 3.4 million units exchanged. It traded flat at S$0.006. Yangzijiang Shipbuilding, another actively traded counter, advanced 2%, or S$0.06, to S$3.01.

Meanwhile, GKE Corporation, a logistics provider, retreated 8.7%, or S$0.009, to S$0.095.

All three major banks declined at the open. UOB slipped 0.2%, or S$0.07, to S$36.73. OCBC edged down 0.1%, or S$0.02, to S$16.95, while DBS fell by 0.5%, or S$0.21, to S$43.86.

In the US, stocks ended mostly higher on Monday, with two of the three major indices closing higher, rising Treasury bond yields, and shifting monetary policy expectations.

The Dow Jones Industrial Average gained 0.9% to 42,297.12. The S&P 500 edged up 0.2%, ending at 5,836.22. However, the Nasdaq Composite Index dropped 0.4% to 19,088.10.

European shares dropped to a one-week low amid a market sell-off triggered by US jobs data, which raised expectations of a more cautious approach from the Federal Reserve regarding interest rate cuts this year. The pan-European Stoxx 600 Index fell 0.6% to 508.68. /TISG

Read also: Singapore stocks traded lower on Monday’s open—STI dropped 0.3%

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