Singapore shares close 0.81% lower on Monday

SINGAPORE - Local shares fell sharply as trading opened for the week, in line with other Asian bourses, as Japan's economy unexpectedly fell into a recession.

The benchmark Straits Times Index dropped 27 points, or 0.81 per cent, to 3,288.67.

Some 1.21 billion shares worth $1 billon changed hands.

Most other regional bourses also closed in the red.

Tokyo stocks, which had surged more than 10 per cent this month, tumbled 2.96 per cent.

Sydney lost 0.77 per centand Seoul was flat. Shanghai closed down 0.19 per cent and Hong Kong sank 1.21 per cent.

Thai Beverage was the top active at home, falling 4.5 cents to 71.5 cents on a turnover of 68.8 million shares.