Singapore shares close lower as Trump rally loses steam

THE Straits Times Index rose 24 points last week in tandem with a Wall Street banking on US President-elect Donald Trump being good for the US economy but fell back 21.98 points or 0.8 per cent to 2,816.67 on Monday, possibly as the reality of higher interest rates and an anti-trade, protectionist US under Mr Trump sank in.

Turnover amounted to 1.8 billion units worth S$1.3 billion, bringing the number of days that dollar value has topped S$1 billion to about 14 in a row. Excluding warrants there were 173 rises versus 278 falls.

The biggest drag on the index came from a S$0.06 fall in Singtel to S$3.65 on volume of 33 million, while the biggest support came from a S$0.02 rise in Genting Singapore to S$0.955 with 94.7 million traded.