Singapore, other regional bourses end session lower; STI down 0.31%

FOLLOWING its outperformance last week, the benchmark Straits Times Index (STI) reversed its gains and closed in negative territory on Monday, slipping 9.29 points or 0.31 per cent to end at 2,983.90.

Among the STI constituents, Jardine Cycle & Carriage emerged as top performer for the day, gaining S$1.22 or 5.87 per cent to close at S$22. Keppel Corporation was also among the counters that made gains; rising S$0.01 or 0.18 per cent to close at S$5.64. The conglomerate last Friday said offshore vessel player Floatel has reached an agreement with lenders of its revolving credit facilities and bank vessel facility, which will deliver a full discharge of security over the assets owned by some of the Floatel group entities.

Meanwhile, City Developments ended at the bottom of the performance table for the day, closing S$0.16 or 2.18 per cent lower at S$7.19, amid recent director departures.

Advancers outnumbered decliners 264 to 244 for the day, with 2.37 billion securities worth S$1.58 billion changing hands.

Elsewhere in Asia, most markets also ended the day in the red.

The Shanghai Composite Index closed down 38.61 points or 1.08 per cent at 3,531.50. According to data released by the National Bureau of Statistics on Monday, China's producer price index (PPI) fell 0.4 per cent from a year earlier. Meanwhile, the consumer price index (CPI) rose 0.2 per cent from a year earlier in December, the statistics bureau said.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

UOB economist Ho Woei Chen said in a note on Monday that there is "possibility for the CPI to dip into the negative again in January and February due to the high base of comparison before rebounding strongly in the second half of the year to bring the annual CPI to 2.5-3.0 per cent this year".

"The strength of the recovery is dependent on the energy price trajectory, the recovery in both global demand and the domestic services sector. PPI deflation is also expected to continue narrowing this year along with the higher input prices."

In South Korea, the benchmark Kospi also ended the day lower, shedding 3.73 points or 0.12 per cent to close at 3,148.45.

On the other hand, the Hang Seng Index gained 30 points or 0.11 per cent to end at 27,908.22.

For full listings of SGX prices, go to https://www2.sgx.com/