SINGAPORE equities dipped at the opening bell on Thursday (May 30) as overnight declines in US and European markets kept investors on the sidelines.
As at 9.01 am, the Straits Times Index (STI) shed 6.8 points or 0.2 per cent to 3,316.4. Across the broader market, losers outnumbered gainers 65 to 32 after 37.8 million securities worth S$55.4 million changed hands.
Marco Polo Marine : 5LY 0% was the most actively traded counter of the morning in terms of volume, falling S$0.001 or 1.5 per cent to S$0.068 with 5.6 million securities traded.
Shares of Addvalue Tech : A31 0% were briskly transacted as well, inching down S$0.001 or 8.3 per cent to S$0.011 at the open.
Index counter Sats : S58 0% gained S$0.09 or 3.4 per cent to S$2.72 in early trade after the in-flight caterer and ground handler on Wednesday reported earnings of S$64.1 million for the six months ended Mar 31.
The trio of banks were all down at the open. OCBC : O39 0% and UOB : U11 0% each lost S$0.05. OCBC fell 0.4 per cent to S$14.34 and UOB dropped 0.2 per cent to S$30.43. DBS : D05 0% slid S$0.10 or 0.3 per cent to S$35.59.
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Wall Street stocks fell at Wednesday’s close as rising Treasury bond yields prompted a sell-off on recent records.
The Dow Jones Industrial Average fell 1.1 per cent on the day to 38,441.54. The broad-based S&P 500 declined 0.7 per cent to 5,266.95, while the tech-rich Nasdaq Composite Index dropped 0.6 per cent to 16,920.58.
European shares ended Wednesday lower as well, amid concerns about higher-for-longer global interest rates.
The pan-European Stoxx 600 index closed 1.1 per cent lower at 513.45 to clock its biggest single-day fall since Apr 16.
