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Wed, 02 Dec 2020 – 9:38 AM
SINGAPORE shares opened slightly lower on Wednesday, despite overnight gains on Wall Street, where major US stock indices closed at records.
The Straits Times Index (STI) was down 6.28 points or 0.2 percent to 2,807.84 at 9.01 a.m.
The losers outnumbered the winners from 60 to 59, after 150.9 million securities worth S $ 67.7 million changed hands.
ComfortDelGro shares are among the most traded in terms of value at open. Its shares fell 1.2 percent or S $ 0.02 to S $ 1.63, after 3.2 million shares worth S $ 5.2 million changed hands.
Other active accountants in the morning trade include Singtel, which was down 0.9 percent or S $ 0.02 to S $ 2.34 at 9.01 a.m.
Shares of mm2 Asia, which is traded on the mainboard, were higher Wednesday morning, rising 5.1 percent or 0.8 Singapore cents to 16.5 cents as of 9:02 a.m. The owner of Cathay Cineplexes said Tuesday it is evaluating a spin-off of its cinema business on the Singapore Exchange’s junior Catalist board.
Shares of Top Glove were trading lower on Wednesday morning, down 0.04 Singapore dollars or 1.8 percent at 2.21 Singapore dollars as of 9:04 a.m. The Malaysian government had said Tuesday that it had opened an investigation and would take legal action against Top Glove, after discovering that the company did not meet standards for worker accommodations.
On Wall Street, major US stock indexes closed again at records on Tuesday, as optimism about potential coronavirus vaccines and the resumption of stimulus talks in Congress offset concerns about rising Covid cases. -19.
The broad-based S&P 500 ended at 3,662.45, up 1.1%, beating last week’s record. The technology-rich Nasdaq Composite Index gained 1.3 percent to finish at 12,355.11, also a record, while the Dow Jones Industrial Average rose 0.6 percent to 29,823.92.
Elsewhere in Asia-Pacific, markets were trading higher on Wednesday morning.
Tokyo shares opened higher, with the benchmark Nikkei 225 index gaining 0.26 percent or 68.89 points to 26,856.43 in early trading, while the Topix index was up 0.42 percent or 7. , 43 points to 1,775.81.
The ASX 200 in Australia was also up 0.2 percent to 6,600.10 in morning trading.
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