STI ends the day down 1.75%, but chalks strongest monthly price gain since 2009

THE benchmark Straits Times Index (STI) ended Monday down 1.75 per cent or 49.87 to close at 2,805.95.

Nonetheless, the STI generated its strongest monthly price gain for November since its 21.3 per cent gain in May 2009, said Singapore Exchange market strategist Geoff Howie.

Mapletree Logistics Trust was one of just two constituents that made gains on Monday; it inched up 0.51 per cent or S$0.01 to close at S$1.97.

The majority of the STI constituents had ended the day in the red, with Jardine Cycle & Carriage as the biggest loser, shedding 7.57 per cent or S$1.59 to close at S$19.41.

The trio of banks also ended the day down. OCBC Bank slipped 0.69 per cent to close at S$10.08, while DBS closed down 1.87 per cent at S$25.20. UOB fell by a larger margin of 2.39 per cent to close at S$22.51.

Data from the Monetary Authority of Singapore on Monday showed that Singapore's bank lending in October fell for the eighth straight month on continued weakness in business loans.

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Loans through the domestic banking unit - which captures lending in all currencies, but reflects mainly Singapore-dollar lending - inched down 0.3 per cent to S$675.64 billion in October, compared with S$677.46 billion a month ago.

Decliners outnumbered advancers 314 to 156 for the day, with 2.9 billion securities worth S$3.65 billion changing hands.

Across the region, Asian markets similarly ended Monday down.

The Nikkei 225 Index closed down 0.79 per cent or 211.09 points at 26,433.62, while the Shanghai Composite Index dipped 0.49 per cent or 16.55 points to close at 3,391.76.

The benchmark Kospi also slid 1.60 per cent or 42.11 points to end at 2,591.34. For the month, however, the index closed up 14.3 per cent - the sharpest monthly gain in 19 years, amid coronavirus vaccine-led recovery hopes.

Over in Hong Kong, the Hang Seng Index fell 2.06 per cent or 553.19 points to 26,341.49, as a result of the latest move by the Trump administration amid escalating US-China tensions.

Reuters on Monday reported that the Trump administration is poised to add China's top chipmaker SMIC and national offshore oil-and-gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, thus curbing their access to US investors.