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Singapore shares decline at Monday's open; STI down 0.55% to 3,204.76

SINGAPORE stocks opened weaker on Monday, with the Straits Times Index heading down 0.55 per cent or 17.87 points to 3,204.76 as at 9.05am.

Losers outnumbered gainers 75 to 50, after 47.58 million securities worth S$81.31 million changed hands.

The most heavily traded by volume was NetLink NBN Trust, which gained 0.5 Singapore cent or 0.59 per cent to 85.5 cents with 11.7 million shares traded as at 9.02am on Monday. Yangzijiang Shipbuilding moved down one cent or 0.68 per cent to S$1.46 with two million shares changing hands.

Mercurius gained 0.4 Singapore cent or 9.52 per cent to 4.6 cents with 1.76 million shares traded. Before the market opened, the Catalist-listed firm announced on Monday that it is looking to acquire half of a Thai private property developer and jointly develop a resort in Phuket, Thailand. It also requested for its trading halt to be lifted on Monday morning.

Banking stocks fell in the early morning trade with DBS down 19 Singapore cents or 0.77 per cent to S$24.62; UOB down 19 cents or 0.76 per cent to S$24.80; and OCBC losing two cents or 0.19 per cent to S$10.76.