Singapore stocks fall at Friday’s open
Singapore shares fell at the opening bell on Friday (Aug 18), tracking tumbles in the US and Europe markets.
$FTSE Singapore Straits Time Index(.STI.SG$ shed 21.63 points or 0.7 per cent to 3,175.12. Across the broader market, losers outnumbered gainers 77 to 27 after 24.8 million securities worth S$36.8 million changed hands.
The most actively traded counter by volume was $Seatrium(S51.SG$ , which rose 0.7 per cent or S$0.001 to S$0.137 after 3.4 million of its securities were transacted.
Other counters that were briskly traded included $YZJ Shipbldg SGD(BS6.SG$ which remained flat at S$1.72, as well as $Koh Eco(5HV.SG$ , which gained 3.6 per cent or S$0.001 to S$0.029.
Wall Street stocks sank for a third straight season as treasury bond yields surged even further from multi-year highs, with the yield on the 10-year US Treasury note climbing above 4.3 per cent after hitting its 15-year peak on Wednesday. The rise in yields has stoked fears over equities and other risk assets.
$Dow Jones Industrial Average(.DJI.US$ closed down 0.8 per cent at 34,474.83, while the broad-based $S&P 500 Index(.SPX.US$ fell 0.8 per cent to 4,370.36. The tech-rich $Nasdaq Composite Index(.IXIC.US$ shed 1.2 per cent to 13,316.93.
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