After a rising streak this week, Singapore shares slip on Friday's open -- STI dropped by 0.2% - Singapore News

Source: The Independent
Author: Mary Alavanza

SINGAPORE: After a rising streak this week, Singapore shares slip on Friday's open, June 14, reflecting the losses seen in European markets the night before.

The Business Times reported that the Straits Times Index (STI) dropped by 0.2%, or 5.42 points, to 3,319.11 by 9:01 am.

The broader market showed a slight edge for gainers, with 46 stocks rising compared to 36 decliners, after 18.1 million securities worth S$24.7 million were traded.

Soilbuild Construction was one of the most actively traded stocks, which saw its shares jump by 52.8%, or S$0.019, to S$0.055, with 1.4 million shares traded. This surge followed the company's announcement on Thursday of a new S$647.5 million construction contract, boosting its order book to about S$1.2 billion.

On the other hand, ComfortDelGro, a major land transport company, experienced a decline, with its shares dropping by 0.8%, or S$0.01, to S$1.33, this was despite the high trading volume. In contrast, Seatrium saw a slight increase in its share price, up 0.6%, or S$0.01, to S$1.71, reflecting modest gains in the mixed market environment.

Local banks also saw a decline at the market's open. DBS saw a decline of 0.6%, or S$0.21, to S$35.63. OCBC edged down by 0.1%, or S$0.02, to S$14.28, while UOB slipped by 0.2%, or S$0.05, to S$30.74.

Wall Street had a mixed performance on Thursday. The S&P 500 and Nasdaq indices reached record highs for the fourth consecutive day, helped by better-than-expected inflation data and strong earnings from artificial intelligence firm Broadcom.

The S&P 500 rose by 0.2% to 5,433.74, and the Nasdaq Composite Index increased by 0.3% to 17,667.56. However, the Dow Jones Industrial Average dipped by 0.2% to 38,647.1.