Singapore shares were muted on Monday’s open—STI dipped by 0.01%

SINGAPORE: Singapore shares were muted on Monday’s open, June 24, reflecting a cautious mood similar to that on Wall Street.

This hesitant start was in line with the performance of the Nasdaq, where chipmaker Nvidia experienced a 3.2% decline on Friday, marking its second consecutive day of losses.

The Straits Times Index (STI) dipped slightly by 0.01%, or 0.18 points, starting the day at 3,305.84, The Business Times reports.

Early trading in Singapore showed a slight positive trend, with 66 gainers compared to 47 losers. In total, 32.5 million securities were traded, amounting to S$45.1 million.

Jasper Investments saw about 3 million shares change hands among the most actively traded stocks, although its share price remained flat at S$0.008.

Mencast Holdings saw its shares rise by 6.9%, or S$0.002, to S$0.031. Singtel shares also climbed 0.4%, or S$0.01, to S$2.65.

Banking stocks had a less positive start. DBS fell by 0.09%, or S$0.03, to S$35.42. OCBC dropped by 0.2%, or S$0.03, to S$14.13, and UOB saw a decline of 0.4%, or S$0.12, to S$30.45.

US stocks had mixed results on Friday after a shorter trading week. Nvidia’s shares fell as traders profited from a recent rise in tech stocks.

The Dow Jones Industrial Average saw a minor gain of 0.04%, or 15.57 points, closing at 39,150.33. In contrast, the S&P 500 fell by 0.16%, or 8.55 points, to 5,464.62, and the Nasdaq Composite dropped by 0.18%, or 32.23 points, to 17,689.36.

European markets also faced downward pressure on Friday.

The Europe-wide Stoxx 600 index fell by 0.7%, or 3.80 points, to 515.11. Technology and banking stocks were notably weak, with the technology sub-index falling 1.3% and eurozone banks sliding by 1.7%.

Carlsberg Group was the standout underperformer after Britvic, the British soft drinks maker, rejected its revised takeover proposal. /TISG

Read also: Singapore stocks open higher on Friday—STI rose by 0.2%

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