At closing bell, the Straits Times Index (STI) index was down 45.48 points, or 1.43%, to 3,134.29 after trading between 3,123.10 and 3,154.72. Volume of 1.85 billion shares worth S$1.25 billion changed hands. Across the broader market, decliners outpaced advancers 351 to 241.
The STIs biggest gainer was Jardine Matheson, rising 2.25% to S$41.68, while the biggest decliner was Mapletree Pan Asia Commercial Trust, down 5.5% to S$1.38.
Banking stocks ended the day lower, with shares of DBS Group Holdings falling 1.15% to S$31.85 and Oversea-Chinese Banking Corp erasing 1.46% at S$12.81. United Overseas Bank was down 0.8% at S$28.39.
ECONOMIC NEWS: The growth of business activity in Singapore's private sector continued in January, albeit at a slower pace than in December 2023, as the demand for Singaporean goods and services remained strong, S&P Global reported Monday.
Meanwhile, Singapore's retail sales edged down 0.4% year on year in December 2023, reversing the 2.4% growth seen in the preceding month, the Singapore Department of Statistics disclosed Monday.
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