Singapore shares closed 1.21 percent lower on Tuesday in sluggish trading ahead of Christmas, dealers said. The blue chip Straits Times Index fell 21.09 points to 1,724.54 on volume of 633 million shares worth 540 million Singapore dollars (373 million US). Losers led gainers 285 to 112 with 898 unchanged.
Traders were taking a break from the market to go for an early Christmas holiday, dealers said. "The market is in a holiday mood. Nibbling by investors is decreasing," said a dealer at a bank-backed brokerage. "As for the funds, they may still do some dressing up before the year ends, but it's clear that they're not in the market today."
Among the property developers, CapitaLand gained two cents to 2.90 dollars but City Developments fell 23 cents to 6.33 and Keppel Land shed seven cents to 1.63. Banks were mostly lower, with Oversea-Chinese Banking Corporation down three cents to 4.90, DBS losing 33 cents to 9.04 and United Overseas Bank gaining six cents to 12.40. Singapore Airlines dropped 46 cents to 11.30, and motor vehicle distributor Jardine Cycle and Carriage fell 54 cents to 9.90.