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Singapore stocks dipped on Thursday—STI fell by 0.2%

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Singapore stocks dipped after DBS Bank announced Tan Su Shan as its new deputy CEO and that she will soon replace Piyush Gupta.

Singapore stocks dipped on Thursday, August 8, after DBS Bank announced Tan Su Shan as its new deputy CEO, in addition to her current position as Group Head of Institutional Banking.

The Straits Times Index fell 0.2%, or 6.38 points, to 3,243.34 by 9:01 am, according to The Business Times. CapitaLand Integrated Commercial Trust was the most actively traded stock by volume, with about 3.3 million units changing hands. CICT shares rose by 1.5%, or S$0.03, to S$2.10. Singtel shares were also actively traded, though its shares fell 0.7%, or S$0.02, to S$2.88. Meanwhile, Genting Singapore shares increased by 1.3%, or S$0.01, to S$0.805.

A strong recovery in banking stocks on Wednesday led to Europe’s main stock index seeing its biggest one-day gain since November. However, Novo Nordisk, the continent’s largest company by market cap, fell after cutting its full-year profit outlook.

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