Singapore stocks open lower on Tuesday; STI down 0.3%

SINGAPORE stocks started trading lower on Tuesday (Nov 26), following declines in other Asian markets after US president-elect Donald Trump said the US would impose an extra 10 per cent tariff on Chinese goods on top of all existing levies.

As at 9.03 am, the Straits Times Index (STI) was down 0.3 per cent or 11.04 points at 3,720.35. Across the broader market, losers outnumbered gainers 73 to 52 after 123.9 million securities worth S$309 million changed hands. 

The most actively traded counter by volume was maritime vessel maker Yangzijiang Shipbuilding, which rose 0.4 per cent or S$0.01 to S$2.64 as at 9.02 am, with 53.7 million shares transacted. 

Shares of Singtel were also briskly traded, falling 0.3 per cent or S$0.01 to S$3.03.

Banking stocks were mostly trading up at Tuesday’s open. DBS gained 0.1 per cent or S$0.02 to S$42.27. OCBC advanced 0.4 per cent or S$0.06 to S$16.25. UOB – the exception – dipped 0.1 per cent or S$0.02 to S$35.99. 

The declines come despite overnight gains on Wall Street. All three major US indices closed higher on Monday, opening a holiday-shortened week with a flourish as investors applauded Trump’s pick of hedge fund manager Scott Bessent for Treasury secretary.

The Dow Jones Industrial Average led the indices, climbing 1 per cent to finish at an all-time high of 44,736.57. The broad-based S&P 500 advanced 0.3 per cent to 5,987.37, while the tech-rich Nasdaq Composite Index also gained 0.3 per cent to 19,054.84.

Europe’s main stock index slipped from a two-week high as gains were limited by a slump in energy stocks, while market sentiment remained optimistic following the nomination of the new US Treasury secretary and encouraging remarks from the European Central Bank’s chief economist regarding monetary-policy easing.

The pan-European Stoxx 600 edged up 0.1 per cent to 508.78. It hit a two-week high earlier in the session and logged three consecutive sessions of gains.