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

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Straits Times Index (STI) dropped by 0.1%, losing 3.37 points at 3,326.72

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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