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Friday, September 18, 2020-9: 47 am
SINGAPORE shares struggled to advance in the opening minutes of trading on Friday, after closing lower the day before and with Wall Street posting losses overnight amid doubts about further stimulus from the Federal Reserve. USA
The benchmark Straits Times Index (STI) added 2.18 points, or 0.1 percent, to 2,502.96 at 9.02 a.m. M.
The winners outnumbered the losers 68 to 47, after 39.1 million securities worth S $ 46.4 million changed hands.
Among the indexed securities, the most traded by volume was Singapore Telecommunications, which fell 0.01 Singapore dollars or 0.5 percent to 2.22 Singapore dollars, with 1.4 million shares traded.
ComfortDelGro lost S $ 0.01 or 0.7% to S $ 1.49, with 1.3 million shares traded.
The trio of local moneylenders increased in the first deals. DBS rose S $ 0.03 or 0.2% to S $ 20.05, OCBC gained S $ 0.03 or 0.4% to S $ 8.53, while UOB added S $ 0.09 or 0, 5% to S $ 19.29.
Other active stocks included Top Glove, which fell 0.08 Singapore dollars or 3 percent to 2.55 Singapore dollars. The glove maker said Thursday that it plans to list in Hong Kong within six to nine months to “expand the company’s reach into a larger market.”
For the fourth quarter ending in August, Top Glove reported a net profit of RM1.29 billion (S $ 423.8 million), more than 17 times higher than its net profit of RM74 million for the prior year period, thanks to a increased demand for gloves. in the middle of the Covid-19 pandemic.
On Wall Street, US stocks fell on Thursday following mixed economic data and amid concerns over a stagnation in Washington regarding additional government support for the coronavirus-hit economy.
The Dow Jones industrial average ended at 27,901.98, down 0.5 percent. The broad-based S&P 500 fell 0.8 percent to 3,357.01, while the technology-rich Nasdaq Composite Index fell 1.3 percent to 10,910.28.
European stocks also fell on Thursday, snapping a four-day winning streak. The pan-European Stoxx 600 closed down 0.5 percent before the closing bell, having hit a one-month high the previous session.
Elsewhere in Asia, Tokyo stocks opened unchanged on Friday in cautious trade after a long weekend. The benchmark Nikkei 225 index rose 0.03% or 6.68 points to 23,326.05 in early trading, while the Topix index rose 0.04% or 0.72 points to 1,639.12.
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