Singapore stocks decline on sustained virus jitters; STI opens 1.3% lower

SINGAPORE shares tumbled at the start of the week, as investors remained cautious with the spread of the novel coronavirus showing little sign of abating.

The benchmark Straits Times Index slipped 41.54 points, or 1.31 per cent to 3,139.94 as at 9am on Monday.

Decliners outnumbered advancers 125 to 35, after about 150.4 million securities worth S$84.2 million changed hands.

Among the most heavily traded by volume, Medtecs International surged 1.1 Singapore cents or 10.7 per cent to 11.4 cents after 13.3 million shares changed hands, while Genting Singapore fell S$0.01 or 1.2 per cent to S$0.85 with 6.1 million shares traded.

Banking stocks were all in the red during the early morning trade. DBS fell S$0.39, or 1.5 per cent to S$24.92, OCBC Bank retreated S$0.18, or 1.7 per cent to S$10.68, while United Overseas Bank shed S$0.46, or 1.8 per cent to S$25.49.

Other active stocks included Sheng Siong which jumped S$0.08, or 6.5 per cent to S$1.31, whereas Jardine Matheson Holdings fell US$1.70, or 2.9 per cent to US$56.30.

Elsewhere in the Asia-Pacific region, Japan's Topix dropped 0.8 per cent at Monday's open, while South Korea's Kospi lost 1.2 per cent. Australian stocks retreated 0.5 per cent.