SINGAPORE stocks dropped on Thursday (Apr 25) morning, tracking subdued performance in global markets. 

As at 9.01 am, the Straits Times Index (STI) fell 37.1 points or 1.1 per cent to 3,256.03. Across the broader market, losers outnumbered gainers 84 to 30 after 63.1 million securities worth S$86 million changed hands. 

Genting Singapore : G13 0% was the most heavily traded counter by volume. The counter was down 2.7 per cent or S$0.025 at S$0.915, after 16.8 million securities were transacted. 

Other counters that were briskly exchanged included Seatrium : S51 0% which shed 1.2 per cent or S$0.001 to S$0.085, after 8.4 million shares changed hands, and Yoma Strategic : Z59 0% which was S$0.001 or 2.3 per cent lower at S$0.043, after 3.1 million securities were traded.

Banking stocks declined in early morning trade. DBS : D05 0% fell 1 per cent or S$0.33 to S$34.05, OCBC : O39 0% shed 0.1 per cent or S$0.01 to S$14.14, and UOB : U11 0% sank 2.8 per cent or S$0.86 to S$30.29.

Over on Wall Street, stocks closed little changed on Wednesday ahead of key US inflation data. The tech-rich Nasdaq Composite Index eked out a gain of 0.1 per cent to 15,712.75, and the broad-based S&P 500 rose a marginal 0.02 per cent to 5,071.63. The Dow Jones Industrial Average ended 0.1 per cent lower at 38,460.92.

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In Europe, shares slumped on Wednesday, pulled down by losses in the financial sector. The pan-European Stoxx 600 shed 0.4 per cent to close at 505.61.