Singapore index extends falls; UOB shares hit 1-month low

SINGAPORE (Reuters) - Singapore shares fell for a third straight session on Tuesday, dragged down by losses in United Overseas Bank and Wilmar International, while the broader Asian market edged down on heightening tensions in Ukraine.

The benchmark Straits Times Index was down 0.4 per cent at 3,230.39 by midday, while MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 per cent.

UOB led losses on the index, plunging 3.6 percent to a one-month low of $21.30 after reaching its ex-dividend date, prompting a sell-off from investors.

The other two banks fared slightly better, with OCBC inching up 0.2 per cent and DBS adding 0.4 per cent.

Shares of Wilmar stretched losses into a second day, falling 2.3 per cent after Australian company Goodman Fielder rejected its takeover bid.

Among other stocks, Jardine Cycle & Carriage shares also suffered heavy losses, dipping 3.4 per cent to hit a 2-1/2 week low of $45.90.

Shipbuilder Vard Holdings dropped more than 4 per cent, on course for its steepest one-day decline since last June, after the company reported a 51-per cent slump in its first-quarter net profit.