SGX falls for fifth day on Trump policy skepticism

Singapore stocks fell for a fifth straight session on Monday, as worries about U.S. President Donald Trump's ability to fulfill his economic agenda continued to hamper risk appetite.

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Reuters

Singapore stocks fell for a fifth straight session on Monday, as worries about U.S. President Donald Trump's ability to fulfill his economic agenda continued to hamper global risk appetite.

Most of the Asian markets were mixed, with MSCI's broadest index of Asia-Pacific shares outside Japan nudged down 0.01 percent.

U.S. stocks ended lower on Friday after the White House announced that Steve Bannon would be leaving his job as chief strategist.

Markets are focusing on any significant policy statements coming out of Jackson Hole, Wyoming. Chair Janet Yellen and European Central Bank President Mario Draghi are among central bankers attending the annual gathering later this week.

The Straits Times Index lost 0.15 percent or 5 points to 3,246. It ended 0.31 percent lower on Thursday, taking the year-to-date gains to about 13 percent.

Singapore Telecommunications lost 0.2 percent while CapitaLand shed 0.5 percent.

Shares of Dukang Distillers Holdings fell 4.4 percent as it expects its overall revenue and earnings to be significantly lower for the fiscal 2017.

Among the gainers, Oversea-Chinese Banking Corp rose 0.2 percent while Best World International gained 2 percent.

About 1.2 billion shares worth S$961 million changed hands, with losers outnumbering gainers 257 to 178.

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