Singapore shares started the week lower after US equities ended down on Friday.

In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,204.36 points after 63 million securities changed hands in the broader market.

In terms of companies to watch for today, we have Genting Singapore. The company announced on Friday that its net profit more than tripled year-on-year to S$129.2 million for the first quarter ended March, though this is no reason for optimism if we dive deeper into the numbers. 

Elsewhere, investors continue to monitor more developments out of the US including plans to resume debt ceiling talks tomorrow, and the meet-up between Tesla’s CEO Elon Musk and Samsung Electronics’ executive chairman JY Lee and the odds of a possible alliance.

On Market View, the Drive Time team unpacked these developments with David Kuo, Co-founder, The Smart Investor.