SINGAPORE equities began trading in negative territory on Monday (Aug 5), after Wall Street stocks tumbled last Friday following the release of poor jobs data in the US.
As at 9.01 am, the Straits Times Index (STI) edged down 2.5 per cent or 85.57 points to 3,295.88. Across the broader market, losers outnumbered gainers 119 to 18 after about 56 million securities worth S$89.1 million changed hands.
The most actively traded counter by volume of the morning was Genting Singapore with 4.7 million securities moved. The counter fell 1.8 per cent or S$0.015 to S$0.825.
Seatrium shares were briskly transacted as well, falling 2.7 per cent or S$0.04 to $1.45. Marco Polo Marine traded 5.4 per cent or S$0.003 lower at S$0.053.
Banking stocks also traded lower at the opening bell. DBS fell 4.1 per cent or S$1.45 to S$33.86, while UOB decreased 3.7 per cent or S$1.18 to S$30.65. OCBC edged down 2.8 per cent or S$0.41 to S$14.39.
Wall Street stocks fell after a disappointing US jobs report that raised recessions worries, while also boosting the odds of interest rate cuts by the US Federal Reserve.
The Dow Jones Industrial Average finished at 39,737.26, down 1.5 per cent for the day and 2.1 per cent for the week.
The broad-based S&P 500 fell 1.8 per cent or 100.12 points to 5,346.56. The tech-rich Nasdaq Composite Index dropped 2.4 per cent or 417.94 points to 16,776.16.
Elsewhere, the pan-European Stoxx 600 index dropped 2.7 per cent to 497.85 points. Most European sub-indexes traded lower as well, with the technology sector falling 6.1 per cent.
