SINGAPORE shares started trading in negative territory on Thursday (Jan 9), mirroring overnight losses in European markets.
As at 9.01 am, the Straits Times Index (STI) opened 0.5 per cent or 17.85 points lower at 3,869.13. Across the broader market, losers outnumbered gainers 58 to 45 after 25.2 million securities worth S$76.1 million changed hands.
One of the most actively traded counters by volume was construction engineering company Wee Hur, which rose 2.1 per cent or S$0.01 to S$0.48, after 1.7 million shares changed hands.
Shares of CapitaLand Investment fell 0.8 per cent or S$0.02 to S$2.49. Meanwhile, shares of Yangzijiang Shipbuilding gained 0.7 per cent or S$0.02 to S$3.10.
Banking stocks were trading down at the open. DBS lost 1.2 per cent or S$0.54 to S$44.90. OCBC fell 0.7 per cent or S$0.12 to S$17.43. UOB was down 0.3 per cent or S$0.10 at S$37.70.
Wall Street stocks ended higher on Wednesday as investors assessed the prospect of further rate cuts. The Dow Jones Industrial Average added 0.3 per cent to 42,635.2, while the broad-based S&P 500 Index picked up by 0.2 per cent to 5,918.25. The tech-focused Nasdaq Composite Index lost 0.1 per cent to 19,478.88.
In Europe, shares dipped amid a surge in bond yields and rising concerns about new tariffs under US president-elect Donald Trump’s presidency. The pan-European Stoxx 600 index closed 0.2 per cent lower at 513.67.
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