Singapore stocks open lower on Wednesday—STI dropped by 0.1%

Singapore stocks opened lower on Wednesday, May 29, following mixed results from US markets overnight.

In the broader market, 55 stocks fell and 48 gained, while 51.2 million securities worth S$77 million changed hands. CapitaLand Integrated Commercial Trust also saw significant activity, trading flat at S$1.97 with 4.5 million units transacted. Meanwhile, Singtel’s shares stayed steady at S$2.46, with 2.5 million shares traded.

United Overseas Bank edged up by 0.5%, or S$0.15, to S$30.69, while Oversea-Chinese Banking Corporation fell by 0.6%, or S$0.08, to S$14.42.The movements in the Singapore market followed a night of mixed outcomes on Wall Street. The Nasdaq Composite Index continued its rise, gaining 99.09 points, or 0.6%, to reach a new record high of 17,019.88.

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