Singapore stocks open subdued on Thursday amid European market losses—STI inched up by 0.01%

SINGAPORE: Singapore stocks opened subdued on Thursday June 20, despite recent declines in European real estate and technology stocks.

The Business Times reported that the Straits Times Index (STI) inched up by 0.01%, adding 0.27 points to reach 3,304.27 at 9:03 am.

The broader market revealed more stocks declining than advancing, 57 stocks fell while 45 rose, as 43 million securities worth S$53.7 million changed hands in early trading.

Wilton Resources was the most actively traded stock by volume with 9.6 million shares exchanged. The company’s shares surged by 73.3% or S$0.011, reaching S$0.026, a significant 113.33% increase.

Dyna-Mac shares also saw substantial trading activity, rising by 4% or S$0.015 to S$0.39. Conversely, Yangzijiang Shipbuilding shares dropped by 1.2% or S$0.03, bringing their price down to S$2.42.

Banking stocks had mixed results at the market’s opening. DBS shares increased by 0.3% or S$0.11 to S$35.58. OCBC shares saw a slight rise of 0.1% or S$0.02, reaching S$14.18. Meanwhile, UOB shares declined by 0.5% or S$0.14, ending at S$30.71.

On Wednesday, European stocks closed lower, mainly due to declines in the real estate and technology sectors. On the other hand, UK stocks found some support from the metal mining sector, as investors considered the latest inflation data.

The pan-European Stoxx 600 index fell by 0.2% or 0.88 points, landing at 514.13. The real estate sector decreased by 1.2%, and technology stocks dropped by 1.1%.

Financial markets in the United States were closed on Wednesday due to a federal holiday. /TISG

Read also: Singapore stocks rose on Wednesday—STI up by 0.6%

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