Singapore stocks opened weaker today, following cautious sentiments in the European market amid global economic uncertainties.

In early trade, the Straits Times Index (STI) headed down 0.1 per cent to 3,199.39 points, after 79.5 million securities worth S$35.9 million changed hands.

In terms of companies to watch for today, we have UOL Group, after the real estate group entered into an agreement with an entity of Worldwide Hotels, to sell Parkroyal on Kitchener Road for S$525 million. 

From the Monetary Authority of Singapore posting a record S$30.8 billion loss following the tightening of the Sing dollar to China’s internet and game provider NetEase’s 85% stock comeback to expectations of the Fed’s latest minutes out later in the trading day, we’ve got more news weighing on markets. 

On Market View, the Drive Time team unpacked these developments with Matthias Chan, Head of Research at SAC Capital.