Singapore shares close 1.2% lower on Monday

THE local market ended 1.17 per cent lower on Monday with the Straits Times Index retreating 39.23 points to 3,313.42 as Shanghai chalked up its sharpest fall in a long while.

The blue-chip index saw 26 of its 30 component stocks retreating, led by the local banks, and only three advancing.

About 1.74 billion shares worth S$982 million changed hands, which worked out to an average unit price of S$0.56 per share.

The most actively traded stock was Catalist-listed waterproofing company Chinese Global, which shot up S$0.043, or 215 per cent, to S$0.063 with 178.2 million shares changing hands. Other actives included WE Holdings and IHC.

Losers outnumbered gainers 402 to 93.