Singapore stocks closed 0.54 percent lower on Monday on profit-taking as they tracked a decline in Wall Street at the end of last week, dealers said. They said the market was seeing some profit-taking following strong gains since the beginning of the year, while waiting for direction from corporate earnings. The Straits Times Index ended the day 11.15 points lower at 2,074.24, while the broader All Singapore Equities Index fell 2.72 points to 545.81.
Volume totalled 781 million shares worth 795 million Singapore dollars (482 million US), from 862 million shares valued at 801 million dollars on Friday.
Losers led gainers 395 to 92, with 457 stocks unchanged. "This is a healthy correction," a dealer with a local brokerage said, adding: "Investors are also waiting for fresh leads ahead of the corporate results announcements."
Among blue chips, ST Engineering fell two Singapore cents to 2.45 Singapore dollars, Singapore Telecommunications rose one cent to 2.44, Singapore Airlines rose 10 cents to 11.50 and Singapore Press Holdings fell two cents to 4.48.
Among technology stocks, Creative Technology fell 2.10 to 23.60, and Venture Corp shed 30 cents to 15.80.
Banking stocks ended the day flat to lower, with DBS unchanged at 15.70, Oversea-Chinese Banking Corp flat at 13.70 and United Overseas Bank falling 20 cents to 13.70.
Local property developer CapitaLand rose seven cents after announcing that it had tied up with casino operators MGM Mirage and Kerzner International to submit separate proposals for an integrated casino resort here.