Singapore's stock market declined yesterday along with most Asian bourses, as investors were concerned that the flare-ups in China and the United States caused by the Delta variant of the coronavirus might wreak havoc on global economies and supply chains.

The Republic's blue-chip gauge, the Straits Times Index (STI), closed 0.38 per cent lower at 3,149.25 points, despite the city state posting a higher Purchasing Managers' Index on Monday night.

Gainers trailed losers 199 to 279 in the broader market, with 1.59 billion securities worth $1.36 billion transacted.

Agri-business group Wilmar International saw its share price rise by 2.79 per cent to $4.42, a day after it announced that its 50 per cent-owned Indian joint venture Adani Wilmar is pursuing an initial public offering in India.

Of the 36 real estate investment trusts (Reits) that traded yesterday, 16 were down, 18 were flat, and only Starhill Global Reit and Lippo Malls Indonesia Retail Trust managed to eke out gains - 0.81 per cent and 1.61 per cent, respectively.

Sembcorp Marine saw about 211.5 million of its shares changing hands, making it the most traded counter for two days in a row. The shares closed at 12.2 cents, or 5.17 per cent higher.

Singapore Press Holdings was also heavily traded following the announcement of Keppel Corp's bid to take its non-media business private. Some 52 million shares were traded and the counter closed 2.13 per cent higher at $1.92.

Regionally, Japan's Nikkei 225 closed down 0.5 per cent and Australia's S&P/ASX 200 dropped 0.23 per cent.

The Shanghai Composite Index ended 0.47 per cent lower, while Hong Kong's Hang Seng Index declined 0.16 per cent.

But South Korea's Kospi climbed 0.44 per cent, while the FTSE Bursa Malaysia Kuala Lumpur Composite Index closed 0.49 per cent higher.