Singapore share prices closed down 0.23 percent on Monday on concerns record high oil prices will harm the city-state's economic prospects, dealers said.
Singapore Airlines was among the biggest losers as investors dumped the stock on concerns its earnings in the near future would be hurt by the spike in oil prices.
The Straits Times index closed down 4.30 points at 1,887.41 and the All-Singapore Equities index dropped 1.88 points to 494.69.
The volume of shares traded totalled 370.79 million worth 396.80 million Singapore dollars (230.7 million US), down from 557.97 million shares valued at 528 million dollars on Friday.
There were 93 gainers, 195 losers and 384 stocks were unchanged.
Even strong June quarter results from Singapore Air, which returned to the black, was not enough keep jittery investors from dumping the shares which finished down 40 cents at 10.70.
"The earnings we've seen so far are good set of results but the outlook going forward looks hazy given the high oil prices," a dealer with a local brokerage said.
The New York reference contract, light sweet crude for delivery in September, climbed to an record high of 43.92 US dollars in Asian trading, up from Friday's all-time closing high of 43.80 dollars
Other large caps were also dumped on worries that high oil prices could drag down their profits.
Creative Technology lost 40 cents to finish at 17.10 and conglomerate Keppel Corp fell 10 cents to 7.20.
United Overseas Bank slipped 10 cents to 13.60 but DBS rose by the same margin to 15.60 after a strong earnings performance in the June quarter.