Singapore shares fell to a 2-week low on uncertainty over an
unusual European bailout proposal for Cyprus that raised
concerns about the euro zone debt crisis.
The Straits Times Index was down 0.8 percent at
3,259.20, while the MSCI index of Asia-Pacific shares outside
Japan shed 1.9 percent.
Property counters such as CapitaLand and Hongkong
Land were among the most actively traded stocks by
value in the Singapore market on Monday.
Hongkong Land fell as much as 2.3 percent to a two-month low
of $6.85 with about 6.2 million shares changing hands, 2.3 times
the average full-day volume over the past 30 days.
However, Singapore Airlines (SIA) outperformed the
market, gaining as much as 2.7 percent to a one-week high of
S$10.94. The rebound came after the Singapore flag carrier
announced an increase of 2.6 percentage points in the overall
load factor for February compared with a year earlier.
To read SIA statement, click
1350 (0550 GMT)