Singapore shares inch down at Friday’s open
Singapore stocks opened slightly lower on Friday (Jan 12) following a muted performance on Wall Street overnight.
Data release on Thursday showed that US consumer prices rose more than expected in December, showing signs that it was still premature for the Federal Reserve to be cutting interest rates.
On the Singapore Exchange, $FTSE Singapore Straits Time Index(.STI.SG$ headed down 0.1 per cent or 3.55 points to 3,197.86 as at 9.01 am. Across the broader market, losers outnumbered gainers 64 to 47, after 34.7 million securities worth S$40.4 million changed hands.
The most active counter by volume was $Seatrium(S51.SG$ , which gained 0.9 per cent or S$0.001 to S$0.113 with 3.8 million shares traded.
Other heavily traded securities included $ThaiBev(Y92.SG$ , which lost 1.8 per cent or S$0.01 to S$0.535, with 3.4 million shares traded, as well as $YZJ Shipbldg SGD(BS6.SG$ , which declined 0.6 per cent or S$0.01 to S$1.58 with 1.5 million shares traded.
US stocks struggled to advance on Thursday. $Dow Jones Industrial Average(.DJI.US$ closed up less than 0.1 per cent at 37,711.02. The broad-based $S&P 500 Index(.SPX.US$ dropped 0.1 per cent to 4,780.24, while the tech-rich $Nasdaq Composite Index(.IXIC.US$ remained flat at 14,970.19.
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