Singapore shares began muted on Wednesday—STI slightly down by 0.04%

SINGAPORE: Singapore shares began muted on Wednesday, June 26, following a mixed outcome in US equities overnight and negative results in European markets.

The Business Times reported that the Straits Times Index (STI) opened slightly lower by 0.04% or 1.33 points, settling at 3,324.95 at 9:01 am.

The broader market showed a positive trend with more gainers than losers; 47 stocks rose while 44 fell, with 27.2 million securities traded, amounting to a total turnover of S$35.9 million.

Among the most actively traded stocks by volume was Singtel, which saw a rise of 0.4% or S$0.01, bringing its share price to S$2.67 with 4.1 million shares exchanged.

Another heavily traded stock, Thai Beverage, remained flat at S$0.465. In contrast, Jasper Investments experienced a significant decline, falling by 12.5% or S$0.001 to S$0.007.

Meanwhile, Sats, an inflight caterer and ground handler, saw its shares decrease by 1.1% or S$0.03 to S$2.83.

Banking stocks showed mixed results at Wednesday’s open. DBS Group Holdings saw a modest increase of 0.3% or S$0.10, bringing its shares to S$35.75.

Similarly, United Overseas Bank (UOB) rose by 0.2% or S$0.05 to S$30.95. However, Oversea-Chinese Banking Corporation (OCBC) saw a slight decline of 0.2% or S$0.03, with shares trading at S$14.38.

In the United States, the stock market ended Tuesday with mixed outcomes. The Dow Jones Industrial Average dropped by 0.8%, closing at 39,112.16. Conversely, the S&P 500 managed a gain, closing 0.4% higher at 5,469.30.

The Nasdaq Composite Index saw a significant rise of 1.3%, ending the day at 17,717.65. This uptick was largely driven by Nvidia, which reversed a recent decline to finish almost 7% higher.

On the other hand, European markets faced a decline, partly due to a significant drop in Airbus shares following a profit warning, which triggered a sell-off in the aerospace sector.

Additionally, investors were cautious ahead of the French parliamentary elections scheduled for later in the week. The Europe-wide Stoxx 600 index fell by 0.2% to close at 517.70. /TISG

Read also: Singapore stocks dip on Tuesday—STI dropped by 0.1%

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