Singapore shares open 3.52 points lower on Monday

SHARES in Singapore retreated at the opening on Monday as investors look towards oil talks and the first US presidential debate this week.

The benchmark Straits Times Index fell 3.52 points or 0.12 per cent to 2,853.43 as at 9.04am.

Some 69.6 million shares worth S$31 million changed hands, with 64 counters up and 83 down.

Oil rebounded following its steepest slide in two months amid indications Saudi Arabia will agree to cut output to January levels at this week's producer talks in Algiers, Bloomberg reported.

The first of three US presidential debates will take place on Monday evening, which might be crucial in determining the election outcome.

A Reuters/Ipsos poll showed that 20 per cent of the electorate remains undecided, far higher at this stage in the campaign than the 12 per cent undecided four years ago.