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Wed, Oct 07, 2020 – 9:41 AM
SINGAPORE shares fell at the open on Wednesday, following a negative Wall Street lead as session gains erased after US President Donald Trump halted stimulus talks.
On the Singapore Stock Exchange, the benchmark Straits Times Index (STI) lost 9.17 points, or 0.4%, to 2,520.09 at 9.01 a.m. M.
Those that declined outnumbered those that advanced 74 to 24, after 25.1 million securities worth S $ 35.1 million changed hands.
The most active accountant by volume was Golden Agri-Resources, which gained 0.2 Singapore cents or 1.4 percent at 14.7 cents, with 1.9 million shares traded. This comes as the integrated palm oil producer said Tuesday that it has incorporated a Brazilian sugar subsidiary.
Other highly traded stocks were Sembcorp Marine, which fell 0.1 Singapore cent or 0.7 percent to 14.6 cents, with 1.5 million shares traded, while Singtel fell 0.02 Singaporean dollars or 0.9 percent at 2.15 Singapore dollars, with 1.1 million shares traded.
The trio of local moneylenders was downsized in the first deals. DBS fell S $ 0.09 or 0.4 percent to S $ 20.62, UOB fell S $ 0.07 or 0.4% to S $ 19.46, while OCBC lost S $ 0.04 or 0 , 5% to S $ 8.58.
However, against the downtrend, Wilmar International gained S $ 0.04 or 0.9 percent to S $ 4.58. The proceeds from the listing of Wilmar’s China unit, Yihai Kerry Arawana, will be used to partially finance 19 investment projects in China. The Business Times reported Wednesday.
On Wall Street, stocks reversed course to end lower on Tuesday after Trump dashed hopes for another round of stimulus spending.
The Dow Jones Industrial Average lost 1.3% to close at 27,772.76, the broad-based S&P 500 fell 1.4% to end the session at 3,360.97, while the technology-rich Nasdaq Composite Index, fell 1.6% to 11,154.60.
Meanwhile, European equities stretched their gains for a fourth session on Tuesday as banking equities stole the spotlight. After losing as much as 0.5 percent at one point, the pan-European Stoxx 600 index gradually erased losses to close 0.1 percent higher.
Elsewhere in Asia, Tokyo stocks opened lower on Wednesday, following falls on Wall Street overnight. The benchmark Nikkei 225 index was down 0.6 percent or 138.53 points to 23,295.20 in early trading, while the broader Topix index was down 0.6 percent or 10.16 points to 1,635.59. .
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