Singapore stocks opened lower today after US markets ended in the red overnight.

In early trade, the Straits Times Index fell 0.2 per cent to 3,247.88 points, after 82.1 million securities changed hands in the broader market.

In terms of notable developments for the day, trading for the Alibaba five times short daily leveraged certificates (DLCs) listed on the Singapore Exchange (SGX) has been momentarily suspended as the airbag mechanism was triggered.

The move came after Alibaba said that it will split its company into six business groups, each with the ability to raise outside funding and go public. Shares of the tech giant surged some 15 per cent at the opening bell on the Hong Kong exchange.

On Market View, the Drive Time team unpacked the happenings for the day with Jeff Ng, Senior Currency Analyst, MUFG. 

They also looked at Vietnam’s Q1 GDP numbers and what that means for the manufacturing hub as well as comments from top US financial officials on the recent turmoil in the banking sector.