Singapore stocks begin week in the red, STI down 0.2%

LOCAL shares started the week on a slightly dour note despite the easing back of some Covid-19 restrictions as part of Singapore's reopening.

The benchmark Straits Times Index fell 0.2 per cent or 4.83 points to end Monday at 3,153.14. Across the broader market, advancers outnumbered decliners 212 to 182, after some 2.14 billion securities worth S$941.5 million changed hands.

Across the region, markets generally ended the day in the black. The Nikkei added 0.7 per cent; the KLCI gained 0.5 per cent, while the Kospi inched up 0.1 per cent. Markets in Hong Kong and Taiwan were closed.

IG market strategist Yeap Jun Rong said some cautious sentiments may linger globally ahead of the US Fed's Federal Open Market Committee meeting as investors weigh the prospects on when it may begin "tapering discussions".

"Investors may also look out for the US producer price index tomorrow with expectations pointing to an ongoing increase in costs, much in line with the consumer price index last week," he said.

"Although consumer sentiments are holding up from pent-up demand and high savings rate for now, it may prove to be a temporary acceptance of price increases for consumers if inflation continues to play out over the coming months."

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On the local bourse, K6S : K6S 0%was the top advancer of the day, gaining 11.2 per cent or US$1.71 to finish the day at US$17.02.

BCY : BCY 0% was another top advancer, rising 26.5 per cent or S$0.71 to S$3.39.

A majority of the local-listed glove makers were also among the gainers. BVA added 1.3 per cent or S$0.02 to S$1.58; AP4 gained 2.3 per cent or S$0.03 to S$1.35; and 8K7 : 8K7 0% rose 1.6 per cent or S$0.01 to S$0.62.

Newly-listed STG : STG 0%, however, was among the biggest decliners, losing 5.1 per cent or S$0.10 to close at S$1.85.

The trio of local lenders were also among the biggest losers of the day. U11lost 0.6 per cent or S$0.16 to S$25.98; O39fell 0.8 per cent or S$0.10 to S$12.23, and D05 : D05 0%shed 0.2 per cent or S$0.07 to S$29.66.

RF7 : RF7 0% was the most actively traded counter for the day. The counter ended Monday up 9.1 per cent or 0.2 Singapore cent at 2.4 cents after some 144.9 million shares changed hands.

Other heavily traded counters were RH Petrogas, Marco Polo Marine and GSS Energy.