| |
SINGAPORE: Singapore stocks dipped a little in opening trade on Wednesday after credit and inflation fears hit Wall Street.
The blue chip Straits Times Index (STI) fell 4.82 points to 2,723.57 in first minutes of trading.
Some 61.4 million shares exchanged hands, with losers beating gainers 119 to 65.
STI had closed 1.75 per cent lower on Tuesday.
US stocks took a drubbing for a second day on Tuesday as a surge in inflation and a fresh decline in housing heightened economic fears that put more pressure on the troubled banking sector.
The Dow Jones Industrial Average tumbled 130.84 points (1.14 per cent) to close at 11,348.55 after a 1.5 per cent slide for the blue-chip index on Monday.
The Nasdaq composite shed 32.62 points (1.35 per cent) to 2,384.36 and the Standard & Poor's 500 index retreated 11.92 points (0.93 per cent) to 1,266.68.
- CNA/yb
|
