Singapore shares open lower on Thursday; STI down 0.4%

SINGAPORE stocks declined on Thursday (Feb 20) morning, tracking overnight losses in European markets.

As at 9.01 am, the Straits Times Index (STI) opened 0.4 per cent or 14.07 points lower at 3,919.97. Across the broader market, losers outnumbered gainers 60 to 46 after 41.2 million securities worth S$74.4 million changed hands.

Among the actively traded counters by volume was logistics management service provider Cosco Shipping International (Singapore), which rose 6.6 per cent or S$0.009 to S$0.146, after 5.5 million shares changed hands.

Genting Singapore shares were down 0.7 per cent or S$0.005 at S$0.77, and those of Singtel lost 0.3 per cent or S$0.01 to S$3.36.

Banking stocks were trading lower at the open. DBS shed 0.3 per cent or S$0.13 to S$45.91. OCBC was down 0.9 per cent or S$0.16 at S$17.69. UOB declined 0.4 per cent or S$0.14 to S$38.44.

Wall Street stocks ended Wednesday higher, despite a choppy season amid worries of US tariffs and inflation. The broad-based S&P 500 gained 0.2 per cent to 6,144.15, its second straight record. The Dow Jones Industrial Average climbed 0.2 per cent to 44,627.59, while the tech-rich Nasdaq Composite Index advanced 0.1 per cent to 20,056.25.

In Europe, stocks declined as investors were wary of a damaging trade war, following US President Donald Trump’s latest tariff threats. The pan-European Stoxx 600 logged its biggest daily drop, falling 0.9 per cent to 552.1.

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