SINGAPORE - Singapore shares opened lower on Monday (Dec 10) with the Straits Times Index down 29.19 points to 3,081.93 as at 9.01am, as Asian stocks slid on heightened worries over trade tensions between the United States and China.
The tensions follow White House trade adviser Peter Navarro's Friday remarks that US officials would raise tariff rates if the two countries could not come to an agreement during their 90-day negotiating period. There are also market worries that the arrest of Chinese telecom giant Huawei's chief financial officer at this time could undermine the trade talks.
About 28.2 million shares worth $68.2 million in total changed hands, with losers outnumbering gainers 100 to 34.
Among the most heavily traded by volume, Thomson Medical fell 0.1 cent or 1.28 per cent to 7.7 cents, with 5.5 million shares traded.
Other actives included Ezion, down 0.1 cent or 1.75 per cent to 5.6 cents; Genting Singapore, down two cents or 2 per cent to 97 cents; and DBS, down 35 cents or 1.45 per cent to $23.81.