Singapore stocks showed little movement at Monday’s open amid global market losses

SINGAPORE: Singapore stocks showed little movement at Monday’s open on Nov 18, amid global market losses from the weekend.

The Business Times reported that the Straits Times Index (STI) edged down 0.15 points to 3,744.55 at 9:01 am.

In the broader market, there were 54 gainers and 54 losers, with 23.2 million securities valued at S$34.1 million traded.

Marine aquaculture company Oceanus led trading volume, with 4.3 million shares exchanged. Its share price remained unchanged at S$0.006. Thai Beverage also saw significant activity, holding steady at S$0.515.

Meanwhile, CapitaLand Integrated Commercial Trust, a real estate investment trust, rose 0.5 per cent to S$1.99, marking a S$0.01 gain.

Banking stocks were mostly lower at the open. OCBC edged up 0.1% or S$0.01 to S$16.45, while UOB slipped 0.03% or S$0.01 to S$36.36. DBS saw a larger drop, falling 0.7% or S$0.29 to S$42.65.

Wall Street ended lower on Friday as remarks that there was no rush to cut interest rates from Federal Reserve Chair Jerome Powell raised concerns about a possible delay in interest rate cuts.

The Dow Jones Industrial Average fell 0.7% to close at 43,444.99. The S&P 500 shed 1.3% to end at 5,870.62, while the Nasdaq Composite Index declined by 2.2% to 18,680.12.

In Europe, markets also faced setbacks, weighed down by disappointing earnings reports and concerns over US President-elect Donald Trump’s policy plans. The pan-European Stoxx 600 index slipped 0.8%, closing at 503.12. /TISG

Read also: Singapore stocks fell on Friday’s open—STI dropped 0.3%

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