THE Straits Times Index (STI) fell 0.83 per cent, or 26.93 points, to close at 3,213.65 on Monday (May 23) amid a mixed regional showing.
Despite starting the day higher, the index trended downward throughout the day.
Losers beat winners 270 to 233 in the broader Singapore market, with 1.61 billion securities worth S$1.08 billion changing hands.
Singapore on Monday announced that core consumer prices have continued to climb, with core inflation in April at its highest level since early 2012.
Among major regional indices, Hong Kong's Hang Seng Index fell 1.19 per cent, Jakarta Composite Index fell 1.12 per cent, and Kuala Lumpur Composite Index slipped 0.43 per cent, while Japan's Nikkei 225 gained 0.98 per cent and South Korea's Kospi rose 0.31 per cent.
Jeffrey Halley, Oanda's senior market analyst for Asia-Pacific, said recessionary concerns continue to hold back the buy-the-dippers in Asia, with most markets in the region "completely ignoring" the strong rally by US index futures.
"Asia, however, isn't taking the bait, with most regional markets trading on the soft side after Beijing tightened virus restrictions in parts of the city, and Shanghai's Jingan district closed shops and told residents to stay at home," Halley said.
Yangzijiang Shipbuilding : BS6 +1.12% was the STI's top performer for the day. The stock climbed 1.12 per cent or S$0.01 to close at S$0.90, extending gains from the previous week.
Wilmar International : F34 -2.33% was the biggest loser on the index, with its stock down 2.33 per cent or S$0.10 to end at S$4.19.
The trio of local banks ended the day in negative territory, with DBS : D05 -1.6% down 1.6 per cent or S$0.50 to S$30.70, UOB : U11 -0.68% down 0.68 per cent or S$0.20 to S$29.22, and OCBC : O39 -0.26% down 0.26 per cent or S$0.03 to S$11.72.
Sumber : businesstimes.com.sg
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