Singapore stocks fell on Friday—STI slipped by 0.1%

SINGAPORE: Singapore stocks fell on Friday, Sept 6, following the global markets’ overnight decline.

The Straits Times Index (STI) slipped by 3.43 points, or 0.1%, to 3,455.23 by 9:02 am, according to The Business Times.

In the broader market, 60 stocks declined outpacing 55 that gained, with 55.9 million securities worth S$48.5 million traded.

Investment holding company Jadason Enterprises was the most actively traded stock by volume. Its share price skyrocketed by 73.3%, gaining S$0.011 to reach S$0.026, with 10.4 million shares traded.

China Kunda Technology also saw notable gains, rising 12.1%, or S$0.004, to S$0.037. Meanwhile, Net Pacific Financial Holdings climbed 62.5%, or S$0.01, to S$0.026.

Banking stocks were down at the market’s opening. DBS dropped by  0.1%, or S$0.05, to S$36.60. Similarly, OCBC declined by 0.6%, or S$0.08, to S$14.55, and UOB fell 0.4%, or S$0.12, to S$31.61. 

On Wall Street, stocks had a mixed performance on Thursday, ahead of a critical US labour market report due on Friday.  The Dow Jones Industrial Average fell 0.5% to 40,755.75, while the S&P 500 slipped 0.3% to 5,503.41. However, the tech-heavy Nasdaq Composite Index managed to post a 0.3% gain, closing at 17,127.66.

Meanwhile, European markets saw losses as concerns over global growth were fuelled by mixed economic data, overshadowing gains in sectors sensitive to interest rate changes. The pan-European Stoxx 600 dropped by 0.5%, closing at 512.05. /TISG

Read also: Singapore stocks rose on Thursday—STI gained 0.5%

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