Singapore’s Straits Times Index (STI) fell 0.24% in early trade on Sept 1 as cautious sentiment weighed on the market.
As at 9.09am, the benchmark index dropped 13.94 points to 5,741.42, after closing 1% higher at 5,755.36 on Aug 31.
Among early movers, Seatrium gained to around S$2.18 after ending the previous session at S$2.15, while UOB slipped to around S$41.45 from its S$41.56 close on Aug 31. Singtel traded around S$4.54.
Investors were also tracking Frasers Property and Mapletree Industrial Trust following fresh corporate developments. Frasers Property announced the S$175 million acquisition of Cuppage Terrace, while Mapletree Industrial Trust said it was evaluating opportunities involving selective divestments of its North American assets.
The softer opening followed overnight losses on Wall Street, where surging oil prices and higher US Treasury yields revived inflation concerns and expectations of tighter Federal Reserve policy.
