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Singapore stocks open lower on Wednesday; STI down 0.7%

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SINGAPORE shares opened lower for the third straight day on Wednesday, amid mounting concerns over the fast-spreading novel coronavirus variant in Britain as well as underwhelming US economic data following a spike in local infections and deaths. Read more at The Business Times.

The trio of local banks were down in early trade. DBS fell 1.1 per cent or S$0.27 to S$24.78, UOB declined 1.2 per cent or S$0.27 to S$22.31, while OCBC slipped 0.9 per cent or S$0.09 to S$9.93.after choppy trading despite overwhelming approval in Congress of the long-awaited US$900 billion relief package.

The benchmark Dow Jones Industrial Average lost 0.7 per cent to finish at 30,015.51, the broad-based S&P 500 slipped 0.2 per cent to 3,687.26, but the tech-rich Nasdaq Composite Index bucked the trend, gaining 0.5 per cent to end at a new record of 12,807.92., demanding bigger payments and calling the Covid-19 relief bill a"disgrace".on Tuesday, driven by optimism over Brexit and US stimulus news.

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