SINGAPORE stocks opened weaker on Monday (May 27) after global markets closed last week mixed.
Singapore’s Straits Times Index (STI) headed down 0.1 per cent or 3.64 points to 3,312.92 as at 9.04 am. Across the broader market, gainers outnumbered losers 75 to 39 after 57.2 million securities worth S$63.1 million changed hands.
The most active counter by volume was Seatrium : 5E2 0%, which surged 9.1 per cent or S$0.14 to S$1.68 with 13 million shares changing hands. This came after the company announced on Saturday S$11 billion worth of contracts.
Other heavily traded securities included Oceanus : 579 0%, which remained unchanged at S$0.009, with 3.6 million shares transacted, and Marco Polo Marine : 5LY 0%, which rose 1.5 per cent or S$0.001 to S$0.068.
Banking stocks all fell on Monday morning. DBS : D05 0% lost 0.5 per cent or S$0.16 to S$35.71, and UOB : U11 0% lost 0.4 per cent or S$0.11 to S$30.44. OCBC : O39 0% fell 0.1 per cent or S$0.02 to S$14.43.
US indices closed on Friday higher ahead of the long Memorial Day weekend, as investors regained confidence for generative artificial intelligence-linked companies such as Nvidia, which closed 2.6 per cent higher. The tech-heavy Nasdaq Composite Index finished the day up 1.1 per cent at 16,920.8, and the broad-based S&P 500 rose 0.7 per cent to 5,304.72. The Dow Jones Industrial Average closed almost unchanged at 39,069.59.
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Over in Europe, stocks ended lower on Friday and down for the week amid investors’ doubts on rate cuts. The pan-European Stoxx 600 index dipped 0.2 per cent to 520.57, marking a weekly loss of nearly 0.4 per cent, its biggest in three weeks.
