SINGAPORE stocks began Friday (Nov 15) trading in negative territory as markets abroad mostly posted losses overnight.
As at 9.01 am, the Straits Times Index (STI) was down 0.3 per cent or 11.83 points at 3,726.33. Across the broader market, losers outnumbered gainers 66 to 37 after 42.3 million securities worth S$65.8 million changed hands.
Offshore and marine specialist Seatrium was the most actively traded counter by volume. It was down 0.5 per cent or S$0.01 at S$1.88 with 2.5 million securities switching hands.
Other actively traded counters included resort and casino operator Genting Singapore which rose 1.3 per cent or S$0.01 to S$0.775 and real estate investment trust CapitaLand Integrated Commercial Trust which traded flat at S$1.97.
Banking stocks were trading down at open. UOB fell 0.8 per cent or S$0.28 to S$35.72. DBS declined 0.7 per cent or S$0.32 to S$42.70 and OCBC dropped 0.6 per cent or S$0.10 to S$16.37.
Major Wall Street indexes closed Thursday lower after Federal Reserve chair Jerome Powell dampened investors’ hopes for an interest rate cut this year and said the US Central bank had no need to rush to ease monetary policy.
The broad-based S&P 500 Index fell 0.6 per cent to 5,949.17 and the tech-rich Nasdaq Composite Index slipped 0.6 per cent to 19,107.65. The Dow Jones Industrial Average was down 0.5 per cent at 43,750.86.
In Europe, strong showings from tech and energy sectors and positive earnings results boosted the pan-European Stoxx 600 Index. It climbed 1.1 per cent to 507.03 points but stood near a three-month low, having fallen in the prior two sessions.
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