Singapore share prices closed 1.65 percent lower on Tuesday ahead of key US economic data to be released this week, dealers said. The blue chip Straits Times Index dropped 50.97 points to 3,033.05 on volume of 1.31 billion shares worth 1.50 billion Singapore dollars (1.1 billion US).
Decliners overwhelmed rising issues 503 to 163, with 855 stocks unchanged. Kim Eng Securities said investors could expect volatile trade this week ahead of important US data including the April trade balance due later Tuesday, retail sales on Thursday and consumer price index figures out Friday.
"There are a few potential land mines that could haunt market sentiment this week," Kim Eng said. Banks ended lower, with DBS Group falling 34 cents to 19.16 Singapore dollars, United Overseas Bank down 32 cents at 18.88 and Oversea-Chinese Banking Corp slipping nine cents to 8.23.
Property heavyweights slumped, with CapitaLand falling 17 cents to 5.95, City Developments down 32 cents at 10.50 and Keppel Land shedding 15 cents to 5.10. Shipping container giant Neptune Orient Lines was among the biggest blue chip losers, dropping 4.67 percent or 17 cents to 3.47. Singapore Airlines fell 32 cents to 15.08 and Singapore Telecommunications finished two cents lower at 3.61.
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