Singapore shares open lower on Monday; STI down 0.6%

Michelle Zhu

Published Mon, Dec 21, 2020 · 01:41 AM

Singapore Stocks

SINGAPORE shares retreated at the opening bell on Monday, tracking a lower close in US markets on Friday.

The Straits Times Index (STI) shed 15.81 points or 0.6 per cent to 2,833.17 as at 9.02am.

Gainers slightly outnumbered losers 66 to 65 after 79.7 million securities worth S$108 million changed hands.

Hi-P International was the most actively traded counter by value, jumping S$0.01 or 0.5 per cent to S$2.01, with 19.7 million shares traded.

The contract manufacturer on Friday said its chairman and controlling shareholder, Yao Hsiao Tung, made a voluntary unconditional general offer at S$2 per share, with a view to delist the company from the Singapore Exchange.

Penguin International was the top gainer in terms of percentage increase, rising 8.5 Singapore cents or 17 per cent to 58.5 Singapore cents, with 0.5 million shares traded.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

VIEW ALL

The firm, which builds high-speed aluminium craft, said on Monday that its executive chairman and managing director are in non-binding discussions with a potential investor in relation to a possible share transaction. It however noted that there is no certainty any deal will materialise from the discussions.

All three local banks fell in early trade. DBS shed S$0.05 or 0.2 per cent to S$25.04, UOB dipped S$0.22 or 1 per cent to S$22.47, while OCBC dropped S$0.10 or 1 per cent to S$9.98.

After hitting record highs at Friday's opening, US stocks retreated to close lower on uncertainty around a coronavirus stimulus deal. On Sunday, US congressional leaders reached agreement on a US$900 billion second Covid-19 stimulus package and omnibus spending bill, although it remained unclear when Congress would vote to seal the deal.

The Dow Jones Industrial Average fell 124.32 points, or 0.41 per cent, to 30,179.05. The S&P 500 lost 13.07 points, or 0.35 per cent, to 3,709.41 and the Nasdaq Composite dropped 9.11 points, or 0.07 per cent, to 12,755.64.

Elsewhere in Asia, Tokyo stocks opened higher on Monday as investors weighed the impact of spreading Covid-19 infections on the economy against the positive effects of new Japanese stimulus.

The benchmark Nikkei 225 index edged up 0.39 per cent or 104.85 points to 26,868.24 in early trade, while the broader Topix index was up 0.37 per cent or 6.61 points at 1,799.85.