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Singapore shares open lower as higher oil prices offset Wall Street rebound


Published : Wed, 21 Nov 2007 02:12
By : Agencies
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SINGAPORE (Thomson Financial) - Singapore shares opened lower Wednesday as a surge in crude oil prices above 98 US dollars a barrel offset the impact of Wall Street's rebound overnight.

At 9.15 am (0115 GMT), the benchmark Straits Times Index was down 3.88 points or 0.1 percent at 3,434.39.

Decliners led gainers 161 to 100, with 129 stocks unchanged.

There were 222 million shares traded valued at 180 million Singapore dollars.

Valuations have become more attractive following the recent sell-down, but there are no domestic catalysts to fuel buying interest, said Najeeb Jarhom, head of retail investment at Fraser Securities.

(1 US dollar = 1.45 Singapore dollars)

TFN.Singapore@thomson.com

jb/ms/jb/jm

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Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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