Singapore stocks: STI resumes Monday afternoon trading, down 3.7% on day

Across the market, decliners trumped advancers 374 to 104. On the blue-chip index, all but two of the STI's 30 components are trading in the red.

Singtel was the STI's most active counter. Singapore's largest telco traded S$0.07 or 2.6 per cent lower at S$2.57 after 18.7 million shares changed hands. The local banks resumed their decline after the Fed's 100 basis point rate cut overnight. DBS fell S$0.48 or 2.5 per cent to S$18.87, OCBC Bank lost S$0.24 or 2.7 per cent to S$8.83 while United Overseas Bank was trading at S$19.71, down S$0.43 or 2.1 per cent, as at 1.04pm on Monday.Among them, Mapletree Commercial Trust dived S$0.21 or 10.2 per cent to S$1.86 and Mapletree Logistics Trust dropped S$0.16 or 9.3 per cent to S$1.57.

Ascendas Reit shed S$0.14 or 4.7 per cent to S$2.86, down 17.1 per cent from its all-time high recorded earlier in the month. Elsewhere in the Asia-Pacific, equity benchmarks were similarly battered, with Australia, China, Hong Kong, Japan, Malaysia, South Korea and Thailand markedly lower.

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Hong Kong: Stocks start Monday on back foot[HONG KONG] Hong Kong stocks opened with more losses on Monday as a dramatic stimulus drive and interest rate cut by the Federal Reserve fanned concerns over the economic impact of the coronavirus. Read more at The Business Times.
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