Singapore stocks dip on Tuesday—STI dropped by 0.1%

SINGAPORE: Singapore stocks dipped on Tuesday, June 25, reflecting the mixed performance in the United States and Europe overnight.

The Straits Times Index (STI) dropped by 0.1%, or 2.68 points, to start the day at 3,311.46 at 9:01 am, The Business Times reports.

In the broader market, there were more gainers than losers, with 60 stocks rising and 48 falling. A total of 29.4 million securities worth S$42.5 million were traded early in the session.

Thai Beverage was one of the most actively traded stocks by volume, declining by 2.1%, or S$0.01, to S$0.46, with 3.3 million shares exchanged.

Singtel also saw significant trading activity, dropping by 0.4%, or S$0.01, to S$2.64. In contrast, shares of CapitaLand Investment increased by 1.1%, or S$0.03, to S$2.69.

Banking stocks showed mixed results at the opening. DBS climbed 0.3%, or S$0.10, to S$35.64, while OCBC fell 0.4%, or S$0.06, to S$14.25. UOB experienced a slight decline of 0.2%, or S$0.06, to S$30.52.

The overnight performance on Wall Street was a mixed bag, with industrial companies posting gains while technology stocks took a hit. The Dow Jones Industrial Average rose by 0.7% to close at 39,411.21, buoyed by strength in industrial shares.

In contrast, the S&P 500 slipped by 0.3% to end at 5,447.87, and the Nasdaq Composite Index fell by 1.1% to 17,496.82, dragged down by declines in tech stocks.

In Europe, stock markets showed a more positive trend, with automobile and financial stocks leading gains. The Europe-wide Stoxx 600 index climbed by 0.7% to close at 518.87, just below a nearly two-week high reached earlier in the session.

Investors are also focusing on the upcoming French parliamentary elections, which could impact market sentiment in the near term. /TISG

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

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