Singapore equities opened in negative territory on Friday, with the Straits Times Index (STI) falling 11.22 points or 0.29% to 3,880.72 as at 9.26am, pressured mainly by declines in heavyweight banking counters.
Among the top decliners, DBS Group Holdings slid 1.55% or 70 cents to S$44.40, exerting significant downward pressure on the STI. Peers UOB and OCBC Bank were also in the red, trading at S$35.34 and S$16.19 respectively.
Other notable counters showed more resilience, with Singtel trading steady at S$3.78, Singapore Airlines (SIA) at S$6.83, and ST Engineering at S$7.36. Meanwhile, Thai Beverage held unchanged at S$0.475.
Despite the fall in the benchmark index, the broader market showed signs of positive momentum. Advancers led decliners 128 to 77, with total volume traded at 183.60 million securities, valued at S$176.47 million.
Sectoral performance was mixed in early trade. The iEdge S-REIT Leaders Index hovered at 997.81, while the FTSE ST Consumer Goods & Services Index was at 221.11. The iEdge SG ESG Leaders Index stood at 1,097.81, reflecting cautious investor positioning ahead of key earnings and macroeconomic signals across the region.
The iEdge SG All Healthcare Index traded at 1,921.88, while the iEdge-UOB APAC Yield Focus Green REIT Index was marginally higher at 2,207.84, highlighting steady interest in yield and ESG-driven plays.
Market watchers expect sentiment to remain cautious amid lingering uncertainty over the US Federal Reserve's next move on interest rates, with Singapore investors tracking global inflation data and the performance of regional peers.
