SINGAPORE shares opened flat on Friday (Aug 23) morning, after US indices fell and Europe’s main stock index climbed overnight.
The Straits Times Index rose 0.03 point to 3,373.61 as at 9.01 am. Across the broader market, losers outnumbered gainers 51 to 47, after 34.3 million securities worth S$38.9 million changed hands.
Healthcare services provider Medtecs International was the most actively traded counter by volume, gaining 5.6 per cent or S$0.008 to S$0.152 with 6.2 million shares transacted.
Other heavily traded securities included Thai Beverage, which remained unchanged at S$0.50 with 4.4 million shares changing hands, as well as Singtel, which rose 0.3 per cent or S$0.01 to S$2.96 with 3.4 million shares traded.
The three local banks opened mixed on Friday. As at 9.03 am, DBS fell 0.2 per cent or S$0.06 to S$35.49, and UOB declined 0.03 per cent or S$0.01 to S$30.55. Meanwhile, OCBC advanced 0.1 per cent or S$0.01 to S$14.28.
In the US, tech shares led stocks lower on Thursday as markets digested recent equity gains amid rising expectations for the Federal Reserve to cut interest rates. The Dow Jones Industrial Average dropped 0.4 per cent to 40,712.78. The broad-based S&P 500 shed 0.9 per cent to 5,570.64, while the tech-rich Nasdaq Composite Index tumbled 1.7 per cent to 17,619.35.
Meanwhile, Europe’s main stock index climbed on Thursday, with healthcare and retail stocks leading the charge, while investors cheered growing prospects of interest rate cuts by major central banks. The pan-European Stoxx 600 index closed 0.4 per cent higher at 515.74, rising for the second day and closing at its highest level this month.
