Singapore's benchmark Straits Times Index (STI) slipped yesterday, extending last week's decline to finish down 0.6 per cent.

CapitaLand was the worst performer on the STI, falling 3.8 per cent to $3.27, with the counter among the most heavily traded in terms of value. The property giant said last Friday it expects to report a loss for the full year ended Dec 31, 2020, due to the impact from revaluations and impairments.

Just four STI counters managed gains yesterday, including Hongkong Land, Keppel DC Reit and Jardine Cycle & Carriage. At the top of the performance table was Wilmar International, which rose 1.8 per cent to $5.53.

DBS Group Research last Thursday said Wilmar deserves a higher valuation multiple than its crude palm oil plantation peers, with a raised target price of $6.67.

Shares of mainboard-listed retailer FJ Benjamin Holdings were up 25 per cent yesterday to two cents. It said on Sunday that it has obtained in-principle approval from the Singapore Exchange to transfer to the Catalist board.

Decliners outnumbered gainers 269 to 220 yesterday, with 3.45 billion securities worth $1.34 billion changing hands.

Elsewhere in Asia, major markets were mostly in the green. The Shanghai Composite Index was up 0.5 per cent, Japan's Nikkei 225 rose 0.7 per cent, while the Kospi in South Korea gained 2.2 per cent.

It was reported yesterday that China overtook the United States as the largest recipient of foreign direct investment (FDI) last year.

"The FDI story has definitely lifted China and its near neighbours today, blowing an economic recovery tailwind into geographically adjacent markets," said Oanda's senior market analyst for the Asia-Pacific Jeffrey Halley yesterday.