Singapore shares dip on Monday—STI dropped 0.5%

SINGAPORE: Singapore shares dip on Monday, Feb 26, with local banks declining.

The Business Times reported The Straits Times Index (STI) dropped by 0.5% or 16.83 points, settling at 3168.08 by 9:01 am.

The morning's trading session saw 71 losers against 56 gainers, with a total turnover of 80.5 million securities valued at S$61.6 million.

Among the most actively traded stocks, Seatrium experienced a notable decline of 3.2% or S$0.003, closing at S$0.09 after 56 million securities changed hands.

Similarly, Genting Singapore slipped by 0.5% or S$0.005 to S$0.925 following the transaction of 2.5 million securities. Mapletree Logistics Trust remained stable at S$1.51, with 1.3 million shares traded.

The banking sector faced early morning losses, with DBS witnessing a decline of 1% or S$0.34, closing at S$33.49. OCBC slipped by 0.2% or S$0.02 to S$13.35, while UOB edged down by 0.2% or S$0.05 to S$28.20.

In contrast, Wall Street painted a different picture as both the Dow Jones Industrial Average and the S&P 500 reached all-time highs following Nvidia's impressive performance released on Friday.

The Dow Jones Industrial Average surged by 0.2%, closing at 39,131.53, while the S&P 500 rose marginally by 0.03%, reaching 5,088.8. However, the Nasdaq Composite Index experienced a slight setback, falling by 0.3% and concluding at 15,996.82.

Meanwhile, European shares soared to record highs for the second consecutive day last Friday, buoyed by robust earnings from Standard Chartered. The pan-European Stoxx 600 marked a 0.4% increase, closing at 497.25, marking its fifth consecutive week of gains. /TISG

Read also: Singapore shares experienced downturn in Friday—STI down 0.5%

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