SINGAPORE shares started trading in negative territory on Thursday (Jul 25), mirroring overnight losses in the global market.
As at 9.01 am, the Straits Times Index (STI) opened 0.6 per cent or 18.88 points lower at 3,441.94. Across the broader market, losers outnumbered gainers 95 to 27 after 41.4 million securities worth S$48.3 million changed hands.
The most actively traded counter by volume was Yoma Strategic, which gained 6.9 per cent or S$0.008 to S$0.124, with 8.3 million shares changing hands.
Other heavily traded securities included Mapletree Logistics Trust, which fell 2.2 per cent or S$0.03 to S$1.32. Shares of Genting Singapore also declined 1.2 per cent or S$0.01 to S$0.84.
Banking stocks were trading down at the open. DBS inched down 0.1 per cent or S$0.05 to S$36.69. OCBC decreased 1 per cent or S$0.15 to S$14.96. UOB tumbled 0.5 per cent or S$0.16 to S$32.72.
Wall Street stocks slipped on Wednesday after bruising investor response to earnings from Tesla and Google parent Alphabet added to worries about tech heavyweight equity valuations.
The tech-rich Nasdaq Composite Index finished down 3.6 per cent, or more than 650 points, at 17,342.41. The Dow Jones Industrial Average fell 1.3 per cent to 39,853.87, while the broad-based S&P 500 dropped 2.3 per cent to 5,427.13.
In Europe, shares closed lower after luxury stocks fell, following dour results from LVMH. The pan-European Stoxx 600 index closed 0.6 per cent lower at 512.3.
