SINGAPORE shares fell at market open on Monday (Feb 26), led by declines from local banks.
The Straits Times Index (STI) fell 0.5 per cent or 16.83 points to 3168.08 as at 9.01 am. Across the broader market, losers outnumbered gainers 71 to 56 after 80.5 million securities worth S$61.6 million changed hands.
Seatrium was the most heavily traded counter by volume. It fell 3.2 per cent or S$0.003 to S$0.09 after 56 million securities were transacted.
Other companies that were briskly traded included Genting Singapore, which slid 0.5 per cent or S$0.005 to S$0.925 after 2.5 million securities were transacted, as well as Mapletree Logistics Trust which traded flat at S$1.51 after 1.3 million shares changed hands.
Banking stocks fell in early morning trade. DBS declined 1 per cent or S$0.34 to S$33.49. OCBC slipped 0.2 per cent or S$0.02 to S$13.35, and UOB also edged down 0.2 per cent or S$0.05 to S$28.20.
Over on Wall Street, the Dow Jones Industrial Average and S&P 500 hit all-time highs on US technology titan Nvidia’s blockbuster results released on Friday.
The Dow Jones Industrial Average gained 0.2 per cent and reached a new record, closing at 39,131.53. The broad-based S&P 500 also rose 0.03 per cent to close at 5,088.8. The tech-rich Nasdaq Composite Index, however, fell 0.3 per cent to close at 15,996.82.
In Europe, shares closed at a record peak for a second day on Friday after strong earnings from Standard Chartered. The pan-European Stoxx 600 was up 0.4 per cent and closed at 497.25, recording its fifth straight week of gains.
