Singapore shares open lower on Friday; STI down 0.75%

SINGAPORE shares pulled back at Friday's open despite rallies on Wall Street and Europe overnight. The Straits Times Index lost 0.75 per cent or 24.25 points to 3,207.30 as at 9.05am on Friday.

Losers outnumbered gainers 97 to 55, after about 80.8 million securities worth S$77.7 million changed hands. Among the most heavily traded were Medtecs International, which rose one Singapore cent or 13.2 per cent to S$0.086 with 19.7 million shares traded, and DISA which fell 0.1 cent or 50 per cent to S$0.001 with 3.1 million shares traded as at 9.06am. Yangzijiang Shipbuilding fell 1.5 Singapore cents or 1.5 per cent to S$0.995, with 2.7 million shares traded.

Banking stocks started the morning trade in a sea of red. As at 9.06am, DBS fell 18 Singapore cents or 0.7 per cent to S$25.52, UOB lost 23 Singapore cents or 0.9 per cent to S$26.10 and OCBC Bank dropped eight Singapore cents or 0.7 per cent to S$10.99. Other active index securities included Sembcorp Industries which fell nine Singapore cents or 4.2 per cent to S$2.07 as at 9.06am. The conglomerate on Thursday

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