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Singapore Shares Open Flat as Investors Eye Local Earnings

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Singapore shares opened flat in positive territory on Thursday as investors take into account the latest US inflation data and look ahead to earnings reports from local market heavyweights.

The Straits Times Index opened marginally higher by 0.02%, or 1.09 points, at 5,721.840.

The market opened on a positive note as US inflation data came in soft, in line with market forecasts. However, sentiment dampened shortly after the open as investors shifted focus to domestic earnings. Singtel (SGX:Z77) reported a 72% drop in fiscal first-quarter net profit to SG$818 million even as revenue rose 4.9% to SG$3.56 billion.

Singtel fell nearly 2% in recent trade.

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