Singapore stocks began Monday relatively unchanged—STI fell by 0.04%

SINGAPORE: Singapore stocks began Monday, March 18, relatively unchanged, reflecting recent data showing a slight dip in the country’s non-oil domestic exports.

According to figures released by Enterprise Singapore, these exports fell by 0.1% year-on-year in February, mainly due to a decline in the non-electronics sector. This shift marks a turnaround from the previous month’s growth of 16.7% and fell short of the 4.7% growth forecast by economists.

The Business Times reported that as of 9:01 am, the Straits Times Index (STI) had declined 1.2 points or 0.04%, resting at 3,171.76.

Market activity indicated a slightly bearish sentiment, with 52 losers outweighing 36 gainers, as 48.5 million securities valued at S$48.4 million changed hands.

Thai Beverage stood out as the most actively traded counter by volume, flat at S$0.50 after 7.4 million securities were exchanged. Similarly, index counter Riverstone observed a positive movement, climbing 1.5% to S$0.685, while Golden Agri-Resources remained steady at S$0.27.

In the banking sector, early trade showed mixed performances. DBS increased by 0.2%, gaining S$0.07 to S$34.74, whereas OCBC slipped slightly by 0.1% to S$13.31. UOB followed suit with a 0.3% decline, trading at S$28.83.

Meanwhile, investors worldwide are keeping a close eye on the upcoming interest-rate decision by the US central bank.

On Wall Street, stocks dipped on Friday, with the Dow Jones Industrial Average falling by 0.5% to 38,714.77, the S&P 500 declining by 0.7% to 5,117.15, and the Nasdaq Composite Index retreating by 1% to 15,973.17.

European shares wrapped up Friday’s session in a sombre tone due to worries that the Federal Reserve could postpone interest rate adjustments in light of elevated wholesale price data and consumer inflation.

However, the losses were cushioned by the strength in telecommunications stocks. The pan-European Stoxx 600 closed 0.2% lower at S$504.80. /TISG

Read also: Global equities downturn sends Singapore stocks plummeting on Friday—STI down 0.9%

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