Singapore stocks dip in quiet start to week amid festive season; STI falls 0.1%

THE Straits Times Index (STI) dipped 0.1 per cent or 4.04 points to close at 3,104.24 points on Monday, amid quiet trading due to the festive season.

In the wider market, advancers outnumber decliners 190 to 139, with 863.6 million shares worth S$394.2 million changing hands.

"The weekend headline newsreel was relatively quiet," said Oanda senior market analyst Jeffrey Halley. "With Hong Kong and Australia closed today, along with the UK this afternoon, and a number of secondary locations, it is hardly a surprise that Asian markets are quiet today."

Markets were mixed across Asia, with Japan's Nikkei 225 and South Korea's Kospi both closing 0.4 per cent lower while the FTSE Bursa Malaysia KLCI gained 1.2 per cent.

The top performer in Singapore's blue-chip index was Dairy Farm International Holdings D01 , which gained 2.6 per cent or US$0.07 to close at US$2.80.

At the bottom of the table was another member of the Jardine Matheson Group, Jardine Cycle & Carriage (Jardine C&C) C07 , which fell 0.7 per cent or S$0.14 to S$20.60.

The most heavily traded counter among the index constituents was Singapore Telecommunications (Singtel) Z74 , which closed flat at S$2.32 after nearly 12 million shares changed hands.

Yangzijiang Shipbuilding BS6 was also heavily traded. The counter climbed 1.5 per cent or S$0.02 to S$1.32 with 11.8 million shares traded.

The trio of local banks closed lower. DBS D05 fell 0.3 per cent or S$0.11 to S$32.50, UOB U11 dropped 0.6 per cent or S$0.16 to S$26.73 and OCBC O39 dipped 0.2 per cent or S$0.02 to close at S$11.32.