SINGAPORE shares opened flat on Friday (Mar 1) morning, despite overnight gains in global markets.
The Straits Times Index (STI) was flat, falling just 0.09 point to 3,141.76 as at 9.01 am. Across the broader market, gainers outnumbered losers 78 to 57 after 77.7 million securities worth S$98.6 million changed hands.
Seatrium was the most heavily traded counter by volume. It traded flat at S$0.09 after 22.7 million securities were transacted.
Other companies that were briskly traded included Thai Beverage, which also traded flat at S$0.505 after 8.2 million securities were transacted, and Golden Agri-Resources, which gained 1.9 per cent or S$0.005 to S$0.27.
Banking stocks traded mixed in early morning trade. DBS rose 0.3 per cent or S$0.09 to S$33.42. OCBC was down 0.1 per cent or S$0.01 to S$12.97, while UOB gained 0.4 per cent or S$0.12 to S$28.07.
Over on Wall Street, stocks climbed on Thursday as investors assessed a key US inflation gauge, while the tech-focused Nasdaq Composite Index set a new record. The Dow Jones Industrial Average rose 0.1 per cent to 38,996.39, and the S&P 500 gained 0.5 per cent to 5,096.27. The Nasdaq surged 0.9 per cent to 16,091.92, surpassing a 2021 high.
In Europe, stocks also rose on Thursday after upbeat earnings and an in-line US inflation print, while Germany’s DAX index touched a record after preliminary data showed slowing inflation. The pan-European Stoxx 600 closed flat at 494.61.
