Singapore stock market returns to losing ways

The Singapore market returned to the red on Monday in what is increasingly becoming a forgettable month for investors.

The benchmark Straits Times Index (STI) had snapped an eight-session losing streak by rising 6.98 points last Friday. But it undid this with Monday's negative performance, dropping 12.25 points or 0.4 per cent to 3,053.77.

The index is down 3.9 per cent for this month so far. Trading volumes have also plunged, in another feature of the year-end lull.

The average daily turnover this month has been only $1 billion, compared with the past year's $1.41 billion. The turnover on Monday was just $687 million, lower than both figures.

The STI's commodities companies were lower, as Golden Agri-Resources lost one cent or 1.8 per cent to 54 cents,

Olam International fell one cent or 0.7 per cent to $1.425, Noble Group backtracked half a cent or 0.5 per cent to $1.02 and Wilmar International slid one cent or 0.3 per cent to $3.37.