Singapore stocks open lower on Wednesday—STI edged down by 0.1%

Singapore stocks open lower on Wednesday, Aug 21. The Straits Times Index edged down by 0.1%, or 1.77 points, to 3,368.54 at 9:04 am, according to.

This surge followed the company’s announcement of a net profit of S$65 million for the first quarter ending June 30, a sharp turnaround from the S$29.9 million loss recorded in the same period last year. Singapore’s three largest banks had a mixed start to the trading day. DBS saw a slight increase of 0.1%, or S$0.03, lifting its share price to S$35.88. UOB, however, dropped 0.3%, or S$0.09, to S$30.70. OCBC’s share price remained flat, with its share price holding steady at S$14.38.On Wall Street, stocks dipped on Tuesday after an earlier rally, boosted by strong retail sales figures and a cooler inflation report, as investors focus on an upcoming speech by the US Federal Reserve chief.

Meanwhile, Europe’s main stock index ended a five-day winning streak on Tuesday, pulled down by heavyweight energy stocks, as investors assessed domestic economic data.

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