SINGAPORE shares ended lower on Monday (Mar 4), bucking gains in the region.
The benchmark Straits Times Index (STI) was down 0.4 per cent or 13.55 points to 3,122.21.
Across the broader market, losers outnumbered gainers 342 to 232, after 1.6 billion securities worth S$967.8 million changed hands.
Key indices around the region ended higher on Monday. The Nikkei 225 rose 0.5 per cent, the Kospi Composite Index gained 1.2 per cent, the Hang Seng Index inched up 0.04 per cent, while the FTSE Bursa Malaysia KLCI was up 0.1 per cent.
Stephen Innes, managing partner at SPI Asset Management, said the strong performance of global equity markets last week likely provided favourable trade winds for Asian markets.
The positive sentiment is driven by hopes for US interest-rate cuts, signs of cooling inflation, and a surge in interest surrounding artificial intelligence within the Big Tech sector, he added.
“These factors collectively contribute to the positive tone in global markets, which is expected to bolster Asian markets and inspire confidence among investors as they commence trading for the week,” Innes said.
On the STI, Venture Corporation was the biggest gainer, rising 2.1 per cent or S$0.29 to S$14.29.
The biggest decliner was Seatrium, which fell 3.2 per cent or S$0.003 to S$0.092.
The trio of local banks ended the day mixed. DBS fell 0.4 per cent or S$0.13 to S$33.42; UOB lost 0.1 per cent or S$0.04 to finish at S$28.15; while OCBC was up 0.1 per cent or S$0.01 to S$13.
