Singapore stocks lower again on Friday—STI dropped by 0.1%

SINGAPORE: Singapore stocks lower again on Friday’s open, June 28, reflecting a subdued global market.

The Straits Times Index (STI) dropped by 2.48 points, or 0.1%, to 3,340.87 at 9:01 am, The Business Times reports. The broader market saw more gainers than losers, with 57 stocks rising and 43 falling. A total of 46.3 million securities valued at S$55.7 million were traded in early deals.

Jasper Investments was the most actively traded stock by volume, maintaining its price at S$0.008 after 7.9 million shares were traded. Marco Polo Marine also experienced significant trading, with its shares falling by S$0.001, or 1.7%, to S$0.058.

Yoma Strategic saw a slight rise, gaining S$0.002, or 1.6%, to reach S$0.126. This increase followed the company’s announcement that it would buy the remaining 20% stake in its subsidiary, Yoma Fleet, for S$18.5 million.

The local banks showed mixed results in early trade. DBS remained unchanged at S$36.05, UOB edged up by S$0.11, or 0.4%, to S$31.22, and OCBC dropped by S$0.06, or 0.4%, to S$14.45.

In the United States, stocks ended Thursday subdued as the market waited for new inflation data. The Dow Jones Industrial Average increased by 36.26 points, or 0.1%, to 39,164.06. The S&P 500 rose by 4.97 points, or 0.1%, to 5,482.87, while the Nasdaq Composite increased by 53.53 points, or 0.3%, to close at 17,858.68.

In Europe, shares dipped on Thursday as investors were cautious ahead of key global economic data and the initial round of the French elections. The pan-European Stoxx 600 declined for the third consecutive session, closing 0.4% lower at 512.59. /TISG

Read also: Singapore shares open lower on Thursday—STI dropped by 0.1%

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