SINGAPORE - Singapore stocks opened weaker on Friday (May 3), with the Straits Times Index moving down 0.24 per cent or 8.15 points to 3,385.18 as at 9.01am.
This comes after declines in oil prices spilled over into US stocks overnight, weighing on energy companies and dragging major indexes lower.
On the Singapore bourse, gainers and losers were almost evenly matched, with 59 securities down to 57 up, after 33.7 million securities worth $84.8 million changed hands.
Among the most heavily traded by volume, Yangzijiang Shipbuilding retreated 1.3 per cent or two cents to $1.55, with seven million shares traded. Alliance Mineral Assets gained 6.7 per cent or 1.1 cents to 17.4 cents, with 2.6 million shares traded.
Other active index stocks included OCBC Bank, down 2.1 per cent or $0.25 to $11.89; and Keppel Corp, which fell one per cent or seven cents to $6.70.
Elsewhere in Asia, Australia's S&P/ASX 200 Index lost 0.2 per cent as of 10.10am in Sydney, and South Korea's Kospi dipped 0.2 per cent, Bloomberg reported. Markets in China and Japan are closed for holidays.