Singapore shares close unchanged on Monday, recovering from initial fall

SINGAPORE stocks finished pretty much unchanged on Monday, with the Straits Times Index up 0.27 point, or 0.01 per cent, to 3,291.56.

"The Straits Times Index is facing some selling pressure at the technical resistance level of 3,300," said CMC Markets Singapore market analyst Margaret Yang. "Investors are also waiting for the earnings season to kick off this Wednesday to paint a clearer picture."

About 2.16 billion shares worth S$1.05 billion in total changed hands, which worked out to an average unit price of S$0.49 per share.

Top stocks by value traded were Singtel, GLP, City Developments, DBS and Sembcorp Marine.

The most actively traded counter was Magnus Energy, which rose S$0.001 to S$0.002 with 245 million shares changing hands. Other actives included Rowsley and Disa.

Losers outnumbered gainers 257 to 193, or about four down for every three up.