Singapore stocks open lower on Thursday—STI falls by 0.3%

SINGAPORE: Singapore stocks opened lower on Thursday (Sept 26), following a drop in global markets the previous day.

The Straits Times Index (STI) fell by 0.3%, or 9.6 points, reaching 3,573.67, by 9.01 am, The Business Times reports.

In the broader market, there were more gainers than losers, with 63 stocks rising compared to 29 that fell, after 36.1 million shares were traded for a total value of S$81.5 million.

CapitaLand Integrated Commercial Trust led the trading volume. Its shares increased by 1%, or S$0.02, to S$2.12, with around 4.7 million shares traded. Other active stocks included offshore oil-and-gas contractor Dyna-Mac, which gained 0.8%, or S$0.005, to S$0.635. Meanwhile, The Place Holdings, a Chinese events company, remained unchanged at S$0.005.

Banking stocks were down in early trading. UOB fell 0.1%, or S$0.02, to S$32.50. DBS Group dropped 0.8%, or S$0.32, to S$38.05, while OCBC Bank decreased by 0.7%, or S$0.11, to S$15.16.

On Wednesday, Wall Street stocks had a mixed finish as the markets experienced a strong period ahead of important US inflation data. Analysts noted that the market seems to be entering a “consolidation” period, marked by a pause or potential pullback following the surge triggered by last week’s Federal Reserve interest rate cuts.

The Dow Jones Industrial Average dropped 0.7% at 41,914.75, and the S&P 500 retreated 0.2% to 5,722.26. In contrast, the tech-heavy Nasdaq Composite Index  saw a slight increase of nearly 0.05%, reaching 18,082.21.

European stock exchanges ended the day slightly lower as energy shares followed the decline in crude oil prices. The pan-European Stoxx 600 index fell 0.1%, closing at 519.14, following two sessions of gains. /TISG

Read also: Singapore stocks declined on Wednesday—STI fell by 0.4%

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