Singapore stocks dip on Tuesday's open; STI down 0.3%

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SINGAPORE shares opened lower on Tuesday, tracking declines in the region and overnight US markets as enthusiasm over the recent coronavirus stimulus package was dampened by the emergence of a new Covid strain in the UK. Read more at The Business Times.

Shares in Sembcorp Marine were the most actively traded in terms of volume, with 13.6 million shares worth S$1.9 million changing hands as at 9.03am. The counter was down 0.3 Singapore cent or 2.1 per cent at 14.1 cents.

The trio of local banks were trading mixed in early trade. DBS was down 0.3 per cent or S$0.07 at S$25.13. On the other hand, UOB edged up 0.1 per cent or S$0.03 to S$22.63, and OCBC rose 0.3 per cent or S$0.03 to S$10.10 as at 9.02am., though financials helped the blue-chip Dow reverse for a modest gain. The S&P 500 lost 14.49 points or 0.4 per cent to 3,694.92, while the Nasdaq Composite dropped 13.12 points or 0.1 per cent to 12,742.52. The Dow Jones Industrial Average rose 37.

While news of the long-anticipated US$900 billion stimulus package included unemployment aid, small business relief and vaccine distribution, the dollar amount fell short of what many market participants had hoped for. Following the discovery of a new and highly infectious strain of the coronavirus in the UK, growing numbers of nations restricted travel of people and movement of goods to and from the sovereign state, promptingElsewhere in Asia,following the mixed close on Wall Street as investor worries intensified over the new coronavirus strain. The Nikkei 225 index was down 0.5 per cent or 124.63 points at 26,589.79 in early trade, while the broader Topix index was down 0.7 per cent or 13.

 

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