Singapore Stocks Open Lower, Tracking Global Markets
SINGAPORE stocks started trading in negative territory on Wednesday (Dec 18) morning, mirroring overnight losses in global markets.
Local Market Performance
As at 9.01 am, the Straits Times Index (STI) opened 0.2 per cent or 6.16 points lower at 3,793.77. Across the broader market, gainers outnumbered losers 47 to 45 after 18.9 million securities worth S$32.1 million changed hands.
Most Actively Traded Counters
One of the most actively traded counters by volume was beverage manufacturer Thai Beverage, which lost 0.9 per cent or S$0.005 to S$0.555, with 1.2 million shares changing hands. Shares of property company Wee Hur were also briskly traded, rising 1.2 per cent or S$0.005 to S$0.43. Singtel’s shares gained 0.3 per cent or S$0.01 to S$3.14.
Local Banking Stocks
Local banking stocks were trading down at the open. DBS slipped 0.4 per cent or S$0.16 to S$44.05. UOB declined 0.6 per cent or S$0.23 to S$36.47. OCBC fell 0.6 per cent or S$0.10 to S$16.85.
Global Markets
Wall Street stocks ended lower on Tuesday as markets awaited a Federal Reserve interest-rate decision. The Fed is expected to cut interest rates again on Wednesday. The Dow Jones Industrial Average finished down 0.6 per cent at 43,449.9. The broad-based S&P 500 declined 0.4 per cent to 6,050.61, while the Nasdaq Composite Index shed 0.3 per cent to 20,109.06.
In Europe, shares fell to two-week lows, weighed down by energy and bank stocks, as investors anticipated a slew of major central bank decisions later in the week. The pan-European Stoxx 600 index ended 0.4 per cent lower at 513.66 points, its lowest closing level since Dec 2.
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Conclusion
The Singapore stock market opened lower, tracking the global market’s losses. Gainers and losers were evenly matched, while local banking stocks were down. The market will be closely watching the Federal Reserve’s interest-rate decision later in the day.
Frequently Asked Questions
- What is the current state of the Singapore stock market?
The Singapore stock market is currently in negative territory, down 0.2 per cent or 6.16 points at 3,793.77. - What is the current state of global markets?
Global markets are also in negative territory, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index all declining. - What is the expected interest-rate decision by the Federal Reserve?
The Federal Reserve is expected to cut interest rates again on Wednesday. - What is the current state of local banking stocks?
Local banking stocks, including DBS, UOB, and OCBC, are trading down at the open, with DBS slipping 0.4 per cent or S$0.16 to S$44.05, UOB declining 0.6 per cent or S$0.23 to S$36.47, and OCBC falling 0.6 per cent or S$0.10 to S$16.85.
