Singapore shares fall in early trading on Monday
Singapore stocks opened weaker on Monday (Aug 21) after global markets ended the week mixed.
On the Singapore bourse, $FTSE Singapore Straits Time Index(.STI.SG$ headed down 0.6 per cent or 18 points to 3,155.93 as at 9.17 am. Across the broader market, losers outnumbered gainers slightly at 113 to 102, after 181.9 million securities worth S$117.6 million changed hands.
The most active counter by volume was $Seatrium(S51.SG$, which dropped 0.7 per cent or S$0.001 to S$0.135, with 100.5 million shares changing hands as at 9.18 am.
Other heavily traded securities included $Yoma Strategic(Z59.SG$ , which gained 2.2 per cent or S$0.002 to S$0.093 with 5.4 million shares traded, and $Singtel(Z74.SG$ , which was down 0.4 per cent or S$0.01 to S$2.33, with 4.8 million shares traded.
The telco on Monday reported that its net profit for the first quarter ended Jun 30 dropped 23.1 per cent to S$483 million from S$628 million in the corresponding year-ago period. This was mainly attributed to a net exceptional loss of S$88 million, compared with a net exceptional gain of S$129 million in Q1 FY2023.
In the US, stocks finished mixed on Friday after gains in defensive sectors and energy clashed with weakness in megacap growth stocks. Investors are also anticipating a speech this week by Federal Reserve chair Jerome Powell.
$S&P 500 Index(.SPX.US$ slipped 0.01 per cent to 4,369.71, while $Dow Jones Industrial Average(.DJI.US$ rose 25.83 points, or 0.1 per cent, to 34,500.66 points. $Nasdaq Composite Index(.IXIC.US$ , meanwhile, fell 0.2 per cent to 13,290.78.
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