Singapore stocks started Wednesday with a slight drop—STI edged down 0.1% Singapore News

83 by 9:01 am, The Business Times reports.

Rex International, an oil exploration and production company, led the trading volume. Its shares rose 6% to S$0.106, with 4.4 million shares traded.Its shares went up by 2% to S$0.052. RH Petrogas, another oil and gas firm, also saw its stock increase by 5.4%, reaching S$0.157. On Tuesday, Wall Street closed lower. The drop came as markets reacted to a US port strike and rising tensions in the Middle East, with concerns over Iran’s missile strike against Israel.The Dow Jones Industrial Average dropped 0.4% to 42,156.97. The S&P 500 also went down by 0.9% to 5,708.75, while the NasdaqEuropean markets also saw losses as investors moved away from riskier assets due to geopolitical concerns over a potential Iranian attack on Israel.

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