SINGAPORE shares started trading in negative territory on Thursday (Aug 22) despite overnight gains in global markets.
As at 9.01 am, the Straits Times Index (STI) opened 0.3 per cent or 9.23 points lower at 3,364.53. Across the broader market, gainers outnumbered losers 54 to 41 after 23.9 million securities worth S$30.7 million changed hands.
One of the most actively traded counters by volume was Genting Singapore, which lost 1.2 per cent or S$0.01 to S$0.81, with 2.3 million shares changing hands.
Other heavily traded securities included CapitaLand Integrated Commercial Trust, which fell 0.5 per cent or S$0.01 to S$2.07. Shares of Seatrium rose 0.7 per cent or S$0.01 to S$1.45.
Banking stocks were trading down at the open. DBS declined 0.3 per cent or S$0.09 to S$35.69. OCBC fell 0.1 per cent or S$0.01 to S$14.33. UOB slipped 0.2 per cent or S$0.06 to S$30.62.
Wall street stocks climbed on Wednesday amid rising expectations for the Federal Reserve to cut interest rates. Markets are awaiting an address on Friday by the Fed chief Jerome Powell at an annual gathering of central bank chiefs in Jackson Hole.
The Dow Jones Industrial Average ended 0.1 per cent higher at 40,890.49. The broad-based S&P 500 gained 0.4 per cent to 5,620.85, while the tech-rich Nasdaq Composite Index rose 0.6 per cent to 17,918.99.
In Europe, shares ended higher as automobile stocks gained some ground while investors awaited the minutes of the US Federal Reserve’s July meeting. The pan-European Stoxx 600 index closed 0.3 per cent higher at 513.95.
