Singapore Shares Open Lower on Mixed Blue-Chip Performance Amid Continued Middle East Unrest
Singapore shares opened lower on Monday, with the benchmark Straits Times Index (STI) slipping in early trade as investors assessed mixed performances among blue-chip stocks. The STI, a key benchmark for the Singapore Exchange, fell marginally in early trade by 0.08%, or 4.31 points, to open at 5,239.980. The lackluster performance was a result of the continued unrest in the Middle East, after Israeli drone strikes killed two people in Gaza, despite US-brokered ceasefire agreements. Market breadth remained positive, with 106 gainers outnumbering 77 losers after 60.67 million securities, valued at SG$75.79 million, changed hands. In other news, oil prices edged lower on Monday after the OPEC+ agreed to raise production targets by 188,000 barrels per day from August, reinforcing expectations of higher global supply. Brent crude slipped 0.33% to $71.88 a barrel, while US West Texas Intermediate fell 0.16% to $68.58.
Singapore shares opened lower on Monday, with the benchmark Straits Times Index (STI) slipping in early trade as investors assessed mixed performances among blue-chip stocks.
The STI, a key benchmark for the Singapore Exchange, fell marginally in early trade by 0.08%, or 4.31 points, to open at 5,239.980.
The lackluster performance was a result of the continued unrest in the Middle East, after Israeli drone strikes killed two people in Gaza, despite US-brokered ceasefire agreements.
Market breadth remained positive, with 106 gainers outnumbering 77 losers after 60.67 million securities, valued at SG$75.79 million, changed hands.
In other news, oil prices edged lower on Monday after the OPEC+ agreed to raise production targets by 188,000 barrels per day from August, reinforcing expectations of higher global supply.
Brent crude slipped 0.33% to $71.88 a barrel, while US West Texas Intermediate fell 0.16% to $68.58.