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Singapore stocks: STI resumes Monday afternoon at 3,146.80, down 0.41% on day

SINGAPORE stocks slid as trading resumed on Monday afternoon, with the Straits Times Index declining 0.41 per cent or 12.88 points on the day to 3,146.80 as at 1.03pm.

Losers outnumbered gainers 157 to 103, after 390.5 million securities worth S$313.4 million changed hands.

Mapletree Commercial Trust was up S$0.02 or 0.9 per cent to S$2.29 in a heavy trading session for the trust, with 29.4 million units changing hands.

Rex International was flat at S$0.084 with 18 million shares traded.

Index stock Hongkong Land Holdings was up US$0.01 or 0.2 per cent to US$5.73 with 3.9 million shares traded.

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The three local banks were all in the red, with DBS down S$0.10 or 0.4 per cent to S$25.05, UOB declining S$0.19 or 0.7 per cent to S$25.57, and OCBC losing S$0.09 or 0.8 per cent to S$10.86.

Equity markets were mostly lower on Monday with investors tracking comments from US President Donald Trump saying he wanted to strike a full trade deal with Beijing, knocking hopes for a piecemeal agreement between the economic superpowers.

"I'm not looking for a partial deal. I'm looking for a complete deal," he told reporters at the White House.

He added that he did not see the need for an agreement before the 2020 presidential election.

The remarks tempered recent optimism on the talks, though China did hail progress in preparatory discussions ahead of a planned high-level meeting next month.

In early trade Hong Kong fell 0.4 per cent with China's Fosun International losing 1.3 per cent after British travel giant Thomas Cook - in which it is the top shareholder - collapsed. The 178-year-old firm had went under after failing to secure £200 million (S$344 million) from private investors to keep it afloat.

Shanghai shed more than one per cent, while Seoul dropped 0.2 per cent. Taipei and Manila also fell, though there were small gains in Sydney, Wellington and Jakarta. Tokyo was closed for a holiday.

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