Singapore stocks retreated as trading began on Thursday—STI dropped by 0.3%

SINGAPORE: Singapore stocks retreated as trading began on Thursday (Nov 14) following a mixed performance in global markets the night before.

The Straits Times Index (STI) dropped by 0.3%, or 12.62 points, landing at 3,707.72 by 9:02 am, as reported by The Business Times.

In the broader market, 51 losers outnumbered 45 gainers after 80.6 million shares, valued at S$69.5 million, were traded.

HS Optimus Holdings, a door manufacturer and distributor, led in trading volume. The company’s shares fell sharply by 50%, dropping S$0.001 to settle at S$0.001, with 30 million shares exchanged. Seafood supplier Oceanus Group also saw a decrease of 14.3%, or S$0.001, reaching S$0.006. Meanwhile, property developer Yanlord Land managed to buck the trend, gaining 7.8%, or S$0.055, to close at S$0.76.

Singapore banks were also mixed as trading began. UOB was the only gainer among the three major banks, edging up 0.1%, or S$0.03, to S$35.53. DBS dropped 1.3%, or S$0.57, to S$42.21. OCBC also slipped by 0.3%, or S$0.04, to S$16.22.

In the US, stocks saw little change on Wednesday as traders looked at new data showing a small, expected rise in inflation last month.

The Dow Jones Industrial Average saw a slight uptick of 0.1%, reaching 43,958.19. The S&P 500 also gained less than 0.1%, closing at 5,985.38. However, the technology-heavy Nasdaq Composite Index took a slight hit, declining 0.3% to 19,230.74.

Meanwhile, European stocks dipped as gains in energy stocks were offset by losses in the real estate sector. The pan-European Stoxx 600 index edged down 0.1%, closing at 501.59 points. /TISG

Read also: Singapore stocks fell as trading began on Wednesday—STI dropped 0.7%

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