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Singapore shares edge down at Monday's open; STI falls 0.03%

SINGAPORE stocks opened slightly lower on Monday, with the Straits Times Index heading down 0.03 per cent or 0.86 points to 3,211.53 as at 9.04am.

Losers outnumbered gainers 71 to 58, after 76.5 million securities worth S$62.2 million changed hands.

The most active counter by volume was Yangzijiang Shipbuilding, which rose 7.5 per cent or eight Singapore cents to S$1.15 with 23.4 million shares changing hands as at 9.14am. The shipbuilder on Sunday announced that its chairman Ren Yuanlin will resume his duties on Monday.

Other heavily traded securities included Golden Agri-Resources which held steady at S$0.21 with 13.4 million shares traded as at 9.14am, and Broadway Industrial which rose four per cent or 0.4 Singapore cent to 10.4 cents on 11.1 million shares traded.

Banking stocks fell in early morning trade. DBS dropped 0.4 per cent or 11 Singapore cents to S$25.86, UOB was down 0.2 per cent or four cents to S$26.38, while OCBC slipped 0.1 per cent or one cent to S$10.95. 

Other active index counters included Manulife US Reit which fell 0.5 per cent or 0.5 US cent US$0.995, and Ascendas Reit which moved up 0.7 per cent or two cents to S$2.93 as at 9.14am. 

Elsewhere in Asia, Tokyo stocks opened higher on Monday, boosted by Wall Street rallies, a cheaper yen and sustained optimism on US-China trade. The Nikkei 225 index rose 0.43 per cent to 23,918.08 in early trade, while the Topix index went up 0.23 per cent to 1,737.11.