SGX Logo. Reuters

Singapore stocks fell on Monday, dragged lower by lenders such as OCBC and United Overseas Bank amidst subdued Asian shares.

Asian shares were less euphoric, with MSCI's broadest index of Asia-Pacific shares outside Japan hovering near a one-month trough on fears U.S. policy tightening could suck liquidity from emerging markets and derail global growth.

Investors' attention will turn this week to central bank decisions in Australia and India among others. Also in focus will be Brexit talks as they progress toward a crucial deadline.

At 0510 GMT, the Straits Times Index fell 0.26 percent or 9 points to 3,440. It ended 0.47 percent higher on Friday, taking the year-to-date performance to about 20 percent.

United Overseas Bank lost 1 percent and Oversea-Chinese Banking was down 0.6 percent, but DBS Group Holdings rose 0.2 percent.

Phosphate mining company AsiaPhos lost 1.4 percent. The company said it met the officials from the Sichuan provincial government in China regarding its mining operations and they have indicated their preference for an amicable settlement.

But OUE Lippo Healthcare, an operator of hospitals and nursing facilities, gained 1.7 percent after it entered into an agreement with Healthway Medical Corp to sublease the premises located at OUE Downtown 2.

About 792 million shares worth S$402 million changed hands, with losers outnumbering gainers 223 to 136.