STI opens lower, declines 0.3%

The Singapore stock market opened lower today after shares at Wall Street remained weak, as low US housing data added to fears that global economic recovery would taper off.

Singapore’s Straits Times Index declined 0.29 percent, or 8.34 points, at 2,914.51.

Turnover was at 59 million shares valued at S$74 million (US$54 million).

Losers beat gainers by 63 to 34, with top decliners including City Developments and UOB.