The Business Times

Singapore stocks fall at Tuesday's open; STI down 0.7%

Published Tue, Oct 5, 2021 · 09:46 AM

SINGAPORE shares fell in early trade on Tuesday, with investor confidence dented by a tumbling of tech shares on Wall Street.

The Straits Times Index fell 0.7 per cent or 22.23 points to 3,067.42 as at 9.01am.

Losers outpaced gainers 96 to 41, after 83.2 million securities worth S$75.1 million changed hands.

Sembcorp Marine was the most actively traded counter by volume on Tuesday morning, with 33.1 million shares changing hands as at 9.01am. Its share price slipped 1.2 per cent or 0.1 Singapore cent to eight cents.

RH PetroGas was one of the top gainers on Tuesday morning, rising 3.1 per cent or 0.5 Singapore cent to 16.5 cents as at 9.01am.

Oceanus was also among the most actively traded counters in terms of volume. Its share price remained flat at 3.9 Singapore cents as at 9.01am.

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The seafood supplier exited the SGX watch list last Wednesday after nearly six years. In a press statement the same day, it said it had demonstrated profitability since the second quarter of 2020.

The trio of local banks were all lower in early trade. DBS was down 0.3 per cent or S$0.08 to S$30.26, UOB fell 0.8 per cent or S$0.20 at S$25.80, while OCBC retreated 1 per cent or S$0.11 to S$11.47 as at 9.01am.

In the US, stocks closed lower on Monday, as tech shares endured another ugly session.

The Dow Jones Industrial Average shed 0.9 per cent to 34,002.92, while the broad-based S&P 500 tumbled 1.3 per cent to 4,300.46. The tech-rich Nasdaq Composite Index suffered the biggest losses of the major indices, ending down 2.1 per cent at 14,255.48.

European shares also struggled on Monday after their worst weekly showing since February.

The Stoxx 600 index fell for a third straight session, down 0.5 per cent, holding near 11-week lows hit in last week's selloff.

Elsewhere in Asia, Japan stocks also opened lower on Tuesday, with the Nikkei 225 index falling more than 2 per cent shortly after the open before recovering slightly to be 1.6 per cent or 464.36 points lower at 27,980.53. Meanwhile, the broader Topix index lost 1.1 per cent or 20.69 points to 1,953.23.

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