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Singapore stocks open flat on Friday as US stocks fall and Europe stocks gain

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51 stocks declined while 47 stocks recorded gains, with 34.3 million securities worth S$38.9 million traded.

Singapore stocks opened flat on Friday, Aug 23, following a decline in US indices and an overnight rise in Europe’s main stock index.

In the broader market, Singapore’s three major banks had a mixed start to the day. DBS shares dip by 0.2%, or S$0.06, to S$35.49. United Overseas Bank also experienced a slight decline, down 0.03%, or S$0.01, to S$30.55. Meanwhile, Oversea-Chinese Banking Corporation bucked the trend, gaining 0.1%, or S$0.01, to S$14.28.In the US, technology stocks drove the market down on Thursday, as investors reassessed recent equity gains and anticipated potential interest rate cuts by the Federal Reserve.

Meanwhile, European markets posted gains, driven by healthcare and retail stocks, and lifted by optimism over possible interest rate cuts from major central banks. The pan-European Stoxx 600 index rose by 0.4% to close at 515.74, its highest level this month.Elon Musk to foreclose home of Gene Wilder’s nephew, after lending him $6.

 

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