SINGAPORE shares started trading in the negative territory on Monday (Jul 1) after global equities ended lower last week.
As at 9.01 am, the Straits Times Index (STI) opened 0.1 per cent or 2.73 points lower at 3,330.07. Across the broader market, losers outnumbered gainers 62 to 54 after 144.9 million securities worth S$73.9 million changed hands.
The most actively traded counter by volume was Asia-Pacific Strategic Investments, which rose 100 per cent or S$0.001 to S$0.002, with 111.2 million shares changing hands.
The Catalist-listed company said on Saturday that it has entered into a conditional subscription agreement with IFH Technology for an aggregate consideration of S$6.3 million.
Almost half of the net proceeds will be used for general working capital, about 30 per cent will be used to defray costs and expenses arising from the company’s acquisition of data solutions provider Mobii Genius, and the remainder will be used to repay a term loan.
Other heavily traded securities included Singtel which declined 0.4 per cent or S$0.01 to S$2.74. Shares of Seatrium edged up 0.7 per cent or S$0.01 to S$1.39.
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Banking stocks were trading mixed at the open. DBS inched up 0.3 per cent or S$0.09 to S$35.88. OCBC rose 0.3 per cent or S$0.04 to S$14.47. UOB slipped 0.4 per cent or S$0.12 to S$31.21.
Wall street stocks ended lower on Friday after the presidential debate in which the performance of Democrat Joe Biden was widely criticised. The Dow Jones Industrial Average declined 0.1 per cent to 39,118.86. The broad-based S&P 500 dropped 0.4 per cent to 5,460.48, while the tech-rich Nasdaq Composite Index shed 0.7 per cent to 17,732.6.
In Europe, stocks declined after shares of beauty giant L’Oreal fell and amid French political uncertainties. The pan-European Stoxx 600 closed 0.2 per cent lower at 511.42, extending losses to the fourth straight session.
