SINGAPORE May 12 Singapore shares started the
week down on Monday as investors stayed on the sidelines of the
market ahead of a public holiday, while the broader Asian market
fell on growing concerns over the ongoing Ukraine conflict.
The benchmark Straits Times Index fell 0.7 percent
to 3,230.01 points by 0502 GMT, led by heavy losses in Jardine
Strategic Holdings Ltd and Jardine Matheson Holdings
, which slumped as much as 4 percent and 2.8 percent
Investors watched the crisis brewing in Ukraine with
caution, and many preferred to lay low ahead of a public holiday
in Singapore on Tuesday.
"We're going into holiday break tomorrow so the market is
not confident about holding shares over the break. The U.S. also
did a bit of a see-saw, so investors aren't convinced," said
Carey Wong, investment analyst at OCBC investment research.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 0.4 percent.
DBS Group Holdings Ltd fell as much as 2.6 percent
to a near one-month low of S$16.64, as the stock hit its
ComfortDelgro Ltd led gains, on course for its
biggest daily gain in nearly nine months, rising 3.9 percent to
hit a 1-1/2 week high of S$2.12.
(Reporting by Andrew Toh; Editing by Sunil Nair)