Singapore shares open lower on Tuesday; STI tumbles 1% to 3,138.49, Stocks

Singapore shares open lower on Tuesday; STI tumbles 1% to 3,138.49, Stocks

Tue, Aug 13, 2019 – 9:33 AM

SINGAPORE shares opened lower on Tuesday as the market reopened following the long weekend break, with the Straits Times Index losing 0.96 per cent, or 30.45 points to 3,138.49 as at 9.01am. 

This comes after Wall Street stocks suffered a bruising session overnight, as worries over the protracted US-China trade war hit banking shares and the broader market. The benchmark S&P 500 fell 1.2 per cent, and the tech-heavy Nasdaq Composite similarly saw a 1.2 per cent decline, while the Dow Jones Industrial Average booked a 1.5 per cent loss.

On the Singapore bourse, losers outnumbered gainers 89 to 38, after about 38.9 million shares worth S$113.5 million changed hands. 

Among the most heavily traded by volume, healthcare player Health Management International (HMI) added 0.7 per cent, or 0.5 Singapore cent to 72.5 cents, with five million shares traded; while Singtel lost 0.3 per cent, or one cent to S$3.25, with some 3.1 million shares traded. 

All three local banks were also down in the early morning trade – DBS slipped 0.08 per cent, or two cents to S$24.92, UOB lost 0.9 per cent, or 22 cents to S$25.83 on a cum-dividend basis, and OCBC fell 1.1 per cent, or 12 cents to S$10.97 on a cum-dividend basis. 

Other active stocks included Hongkong Land which plunged 4.6 per cent, or 25 US cents to US$5.20 on a cum-dividend basis, and Jardine Matheson Holdings (JMH) which fell 4.5 per cent, or US$2.49 to US$52.59.

Elsewhere, Asian equities slipped on Tuesday as fears over a drawn out US-China trade war, protests in Hong Kong and a crash in the Argentina peso drove investors to safe haven assets. 

The MSCI’s broadest index of Asia-Pacific shares ex-Japan fell 0.3 per cent, while Japan’s Nikkei tumbled 1.3 per cent.

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