SINGAPORE shares opened lower on Thursday, the final trading day of the year, before the stock market closes at 12pm for the half-day holiday. It will remain closed on Friday in observance of New Year's Day, with trading to resume on Jan 4, 2021.
The Straits Times Index slipped 0.4 per cent or 10.84 points to 2,858.38 as at 9.05am. Gainers matched losers at 67 apiece after 88.1 million securities worth S$107.8 million changed hands. Singtel was among the most actively traded index counters, with some 3.3 million shares worth S$7.6 million changing hands. Shares of the telco declined 0.4 per cent or S$0.01 to S$2.31 as at 9.05am. Ahead of Thursday's open, Singtel announced a reorganisation of its structure to capture new digital growth, with the changes set to take effect from Jan 1, 2021.
The trio of local banks were down in early trade. DBS fell 0.2 per cent or S$0.05 to S$25.18, OCBC shed 0.7 per cent or S$0.07 to S$10.14, while UOB dipped 0.1 per cent or S$0.03 to S$22.72., shrugging off the dimming chances of more US stimulus being enacted, while another coronavirus vaccine advanced. The Dow Jones Industrial Average closed at a fresh record, finishing 0.2 per cent higher at 30,409.56 to narrowly overtake an all-time high on Monday. The broad-based S&P 500 added 0.