Up to 1.94 billion shares worth S$1.6 billion exchanged hands.

Gainers outweighed losers, 388 to 302.

'We are taking the cue from the US,' said Terence Wong, retail market research head at DMG & Partners.

The surprise 2.8 per cent rise in non-oil domestic exports (NODX) to 15.4 billion dollars in January from a year earlier failed to bring relief to nagging concerns about the US economy.

'The worst for the US has not yet materialised and more negative news is likely to emerge,' Westcomb Financial said in a client note.

Singapore's NODX to the United States fell 4.4 per cent in January, compared with a 3.0 per cent rise in December, government data released on Monday showed.

Banking shares were mixed, with DBS Group gaining 34 cents to 18.24 dollars, Oversea-Chinese Banking Corp up five cents at 7.55 dollars and United Overseas Bank falling 26 cents to 17.96 dollars.

Keppel Land led property decliners, losing 12 cents to 6.20 dollars. City Developments slipped eight cents to 12.12 dollars, CapitaLand lost a cent to 6.31 dollars and Wing Tai closed three cents lower at 2.09 dollars.

Among blue chips, Singapore Exchange fell 15 cents to 9.34 dollars, Singapore Airlines slipped two cents to 15.80 dollars and Singapore Telecom was down one cent to 3.97 dollars.

Shipping firm Neptune Orient Lines bucked the downward trend, closing 24 cents higher at 3.95 dollars. -- AFP