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Singapore shares decline at Monday's open; STI down 0.25% to 3,070.18

SINGAPORE stocks opened lower on Monday, with the Straits Times Index slipping 0.25 per cent or 7.79 points to 3,070.18 as at 9.02am.

Losers outnumbered gainers 72 to 53, or about four securities down for every three up, after 26.0 million securities worth S$57.6 million changed hands.

Among the most heavily traded by volume, Singtel moved down 1.6 per cent or S$0.05 to S$3.05 with 5.8 million shares traded. Ezion Holdings retreated 2.0 per cent or S$0.001 to S$0.048 with 1.3 million shares traded.

Active index stocks included Genting Singapore, up 1.1 per cent or S$0.01 to S$0.96. Among financials, DBS Group Holdings was down 0.4 per cent or S$0.10 to S$23.64; United Overseas Bank declined 0.9 per cent or S$0.21 to S$24.45; and OCBC Bank was down 0.5 per cent or S$0.06 to S$11.40.

Regional markets opened lower amid worries about China's slowing economy, with Japan’s Topix index declining 0.6 per cent as at 9.05am in Tokyo. In South Korea and Australia, the Kospi index was down 0.8 per cent and the S&P/ASX 200 Index fell 0.5 per cent.

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