Singapore shares open lower on Thursday—STI dropped by 0.2%

Singapore shares opened lower on Thursday, tracking losses in US and European markets from the previous day.

Trading activity amounted to 37.8 million securities valued at S$55.4 million. However, there was a positive outlier. Sats stood out as a positive performer. The in-flight caterer and ground handler’s shares rose S$0.09 or 3.4% to S$2.72. This uptick followed the company’s report of earnings amounting to S$64.1 million for the six months ending March 31.

European markets also closed lower on Wednesday, with the pan-European Stoxx 600 index down by 1.1% at 513.45, marking its largest single-day decline since April 16. The decline was attributed to persistent concerns about global interest rates remaining higher for longer than anticipated. /

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